By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, April 5 (CNS Canada) – ICE Futures Canada canola contracts were mixed Thursday morning, seeing some consolidation to start the day.
Early gains in Chicago Board of Trade soybeans provided underlying support, although soyoil futures were weaker.
The threat of a trade war between China and the United States continued to overhang the grains and oilseeds, with canola traders still trying to get a handle on what possible tariffs on U.S. soybeans would mean for Canadian exports.
Talk that some Chinese buying interest was already shifting to Canadian canola helped underpin the futures on Wednesday, but the tariffs are only talk for now and weekly U.S. soybean export sales were solid.
Large old crop supplies and expectations for increased acres this spring did put some pressure on values. The Canadian dollar was also a bit firmer on the day.
About 4,500 canola contracts had traded as of 9:02 CDT.
