By Dave Sims, Commodity News Service Canada
WINNIPEG, October 22 – Canola contracts on the ICE Futures
Canada platform were stronger Wednesday morning, lifted higher in
sympathy with soybeans and spillover buying in Malaysian palm oil,
European rapeseed and soyoil.
Values were also correcting higher after the losses were
overdone in yesterday’s session, according to analysts.
The Canadian dollar was weaker against its US counterpart this
morning which also lent support.
Harvest pressure from the US soy crop limited the gains, said
an analyst, adding that canola remains in a state of consolidation.
Brazilian soybean fields received some much-needed rainfall,
which was bearish.
About 4,000 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:
