By Phil Franz-Warkentin, Commodity News Service Canada
September 11, 2014
Winnipeg – ICE Canada canola contracts were lower
Thursday morning in choppy activity, as participants await the
release of the USDA’s latest supply/demand report later in the day.
The USDA is expected to confirm a record large US soybean crop
in its 11:00 CDT report, but the release of the actual number could
trigger a bounce one way or the other depending on how the market
reacts.
Cold overnight temperatures and recent snowfall in parts of
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the forecasts are improving, and early reports are that the damage
may not have been as severe as feared.
Outside oilseed markets were mixed in overnight activity,
providing little direction for canola.
The Canadian dollar was down by about half a cent relative to
its US counterpart, which was somewhat supportive for canola prices.
About 2,200 canola contracts had traded as of 8:49 CDT.
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 8:49 CDT:
