By Dave Sims, Commodity News Service Canada
WINNIPEG, September 26 (CNS) – Canola contracts on the ICE Futures Canada platform were chopping around unchanged at 10:40 CDT on Tuesday. Losses in US soybeans were offset by gains in vegetable oil markets.
Canola is displaying independent strength in the face of losses on the soybean markets.
Wet and cool weather has delayed the harvest in much of Western Canada, which was supportive.
The Canadian dollar has been a bit weaker as of late, which helped prop up values.
Rain is expected to fall on dry regions of Brazil, which should improve growing conditions.
Steady farmer selling capped the upside.
About 6,100 canola contracts had traded as of 10:40 CDT.
Milling wheat, barley and durum were all untraded.
Prices in Canadian dollars per metric ton at 10:40 CDT:
Price Change
Canola Nov 495.40 up 0.10
Jan 501.60 dn 0.20
Mar 506.20 dn 0.40
Milling Wheat Oct 235.00 unch
Dec 237.00 unch
Durum Oct 279.00 unch
Dec 283.00 unch
Barley Oct 145.00 unch
Dec 148.00 unch
