By Brandon Logan, Commodity News Service Canada
WINNIPEG, Feb. 6 – Canola contracts on the ICE Futures
Canada platform were higher at 10:41 CST Thursday, underpinned
by spillover from the gains seen in the CBOT soy complex,
participants said.
Adding to the bullish tone were gains seen overnight by the
Malaysian palm oil and European rapeseed futures, brokers said.
Ideas that canola remains cheap in comparison with most oilseeds
were also supportive.
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sales during the previous week.
However, logistical issues moving Canada’s record large
canola crop out of the Prairies limited any further gains, as
did concerns that Brazil is currently on pace to harvest a
record large soybean crop, traders said.
A jump seen in the value of the Canadian dollar was also
bearish.
About 14,800 canola contracts had traded as of 10:41 CST.
Milling wheat, durum, and barley futures were all untraded
and unchanged after seeing some price revisions following
Wednesday’s close.
Prices in Canadian dollars per metric ton at 10:41 CST:
