By Dave Sims, Commodity News Service Canada
WINNIPEG, February 9 – Canola contracts on the ICE Futures Canada platform were slightly above unchanged at 10:15 CST on Thursday, as traders waited for the release of the USDA’s monthly supply and demand report.
“There’s no possible way this report will give us much use,” said a trader in Winnipeg. “But fund money still moves around depending on what they’ve got planned, so there can still be some volatility.”
Gains in the vegetable oil market were supportive for canola.
Canola could see some follow-through buying today, according to an analyst.
However, losses in Chicago Board of Trade soybeans were bearish for values.
The Canadian dollar was slightly stronger relative to its US counterpart, which made canola less attractive to foreign buyers.
About 15,000 canola contracts had traded as of 10:15 CST.
Milling wheat, barley and durum were all untraded.
Prices in Canadian dollars per metric ton at 10:15 CST:
