ICE Canola Higher With Soy Complex

By Dave Sims, Commodity News Service Canada

WINNIPEG, September 2 – Canola contracts on the ICE Futures Canada platform were higher Tuesday morning in sympathy with the CBOT soy complex.

Palm oil and European rapeseed were both firmer which helped lift values. The Canadian dollar was weaker which also lent underlying support.

The unknown size of this year’s Canola harvest is throwing uncertainty into the market, keeping speculators from aggressive selling which was bullish, according to an analyst.

The pending Canadian harvest and large supplies of US soybeans limited the gains.

About 2,100 canola contracts had traded as of 8:35 CDT.

Milling wheat, durum, and barley futures were all untraded and unchanged.

Prices in Canadian dollars per metric ton at 8:35 CDT:

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