By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Feb. 3 (CNS Canada) – ICE Futures Canada canola contracts were down at midday Friday, as losses in the Chicago Board of Trade soy complex weighed on values.
Chart-based positioning ahead of the weekend was a feature, as the market saw a modest correction after posting solid gains the previous two sessions.
Strength in the Canadian dollar added to the bearish tone, according to participants.
Statistics Canada released its grain stocks, as of December 31, report on Friday. Canola supplies were pegged at 12.159 million tonnes, which was down from the year-ago level but in line with trade expectations.
About 7,000 canola contracts had traded as of 11:00 CST.
Milling wheat, durum, and barley futures were all untraded and unchanged.
