By Jade Markus, Commodity News Service Canada
WINNIPEG, April 28 – ICE Canada canola contracts were mixed in early activity on Friday.
Front contracts were feeling the bearish effects of farmer selling. Weakness in the Chicago Board of Trade soy complex was also a feature.
The front May contract saw the steepest declines, as traders exited positions ahead of its expiry.
However, weather concerns kept values supported in more deferred contracts.
Wet and cool weather in Western Canada is keeping support in the market. Unharvested canola still sits in fields, and the potential for delayed seeding this year is bullish.
Weakness in the Canadian dollar also provided support to the market.
About 2,000 canola contracts had traded as of 8:45 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:45 CDT:
