By Dave Sims, Commodity News Service Canada
WINNIPEG, Aug. 30 (CNS) – Canola contracts on the ICE Futures
platform were slightly higher at midday Thursday, as weakness in the
Canadian dollar made canola more attractive to international buyers.
The market also benefited from slight gains in soybeans and
European rapeseed futures.
Ideas the market was technically oversold added to the upside.
Traders were also positioning themselves in advance of tomorrow’s
crop production forecast from Statistics Canada.
However, canola remains expensive relative to other oilseeds.
Losses in soyoil were bearish and harvest pressure is
About 6,700 canola contracts had traded as of 10:45 CDT.
Prices in Canadian dollars per metric ton at 10:45 CDT: