By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Oct. 3 (CNS Canada) – ICE Futures Canada canola contracts were holding onto small gains at midday Tuesday, although activity was thin and choppy.
“There’s just not much going on,” said a Winnipeg-based broker on the sideways canola market. He said the market was in a “wait and see mode,” with about a quarter of the crop still too be harvested in Western Canada.
Cool and wet conditions continue to cause delays in parts of Saskatchewan and Alberta, although the broker said there was still time to get the crop off.
CBOT soyoil was higher at midsession, which provided some spillover support for canola. However, soybeans were trading near unchanged.
The Canadian dollar was holding relatively steady, providing little direction.
About 5,700 canola contracts had traded as of 11:13 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
