By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Sept. 14 (CNS Canada) – ICE Futures Canada canola contracts were stronger Thursday morning, seeing some follow-through buying interest after yesterday’s recovery off of nearby lows.
Cooler and wetter conditions across most of Western Canada are expected to cause harvest delays in some areas, which added to the firmer tone in canola.
Early weakness in the Canadian dollar, which was trading back below 82 US cents, and strength in the Chicago Board of Trade soy complex were also supportive.
However, seasonal harvest pressure remained a bearish influence in the background, despite the nearby delays, as farmers continue to make steady deliveries into the commercial pipeline.
About 7,000 canola contracts had traded as of 8:56 CDT.
Milling wheat, durum, and barley futures were all untraded.