By Terryn Shiells, Commodity News Service Canada
Winnipeg, Oct 17 – Canola contracts on the ICE Futures Canada platform were softer Friday morning, following the declines seen in Chicago soybean and soyoil futures, analysts said.
The upswing in the value of the Canadian dollar was also bearish, as was pressure from the advancing Canadian canola harvest.
Ongoing expectations of record large US soybean production and a recent pickup in farmer selling into Canadian cash markets further undermined values.
However, strength in outside financial markets Friday morning helped to underpin prices, as did concerns about dry conditions hindering South American soybean planting.
As of 8:47 CDT, about 3,300 contracts had traded.
Milling wheat, durum and barley futures were untraded following price revisions after Thursday’s close.
Prices in Canadian dollars per metric ton at 8:47 CDT:
