By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Sept. 28 (CNS Canada) – ICE Futures Canada canola contracts were weaker Thursday morning, with declines in the Chicago Board of Trade soy complex putting some pressure on values.
Seasonal harvest pressure remained a bearish influence in the background as well, with farmers continuing to make steady deliveries into the commercial pipeline.
However, forecasts calling for cool and wet harvest-delaying weather in parts of Western Canada provided some underlying support.
Wednesday’s sharp decline in the Canadian dollar relative to its US counterpart also provided some support, although the currency was stabilizing in early activity.
About 4,000 canola contracts had traded as of 8:48 CDT.
Milling wheat, durum, and barley futures were all untraded.
