By Dave Sims, Commodity News Service Canada
WINNIPEG, April 11 – Canola contracts on the ICE Futures Canada platform were mostly higher at 10:30 CDT on Tuesday, with the two front-month contracts pushed higher by technical buying while losses in US soy weighed down the more-deferred contracts.
Slow farmer selling contributed to the gains, according to a trader in Winnipeg.
Some traders are also taking positions ahead of the release of the World Agricultural Stocks and Demand Estimates report from the USDA. That report is due out at 11:00 CDT.
However, the large soybean crop coming out of South America weighed down prices.
“The new crop continues to lag as the prospect for large canola acres continues to keep a lid on that market,” said the trader.
About 19,500 canola contracts had traded as of 10:30 CDT.
Milling wheat, barley and durum were all untraded.
Prices in Canadian dollars per metric ton at 10:30 CDT:
