By Dave Sims, Commodity News Service Canada
WINNIPEG, April 25 (CNS) – Canola contracts on the ICE Futures Canada platform were mostly higher at midday Wednesday, propped up by weakness in the Canadian dollar.
Gains in Chicago Board of Trade soybeans were supportive for canola.
Traders were also taking positions ahead of the release of Statistics Canada’s acreage estimates on Friday.
Farmer selling is limited due to road bans, which was bullish.
However, losses in CBOT soyoil dragged on values.
There are ideas Friday’s acreage report could be bearish for the market.
About 13,000 canola contracts had traded as of 10:35 CDT.
Prices in Canadian dollars per metric ton at 10:35 CDT:
