By Glen Hallick, Commodity News Service Canada
WINNIPEG, Jan. 30 (CNS Canada) – The canola market is trading both sides of unchanged with nothing major moving it, according to a Winnipeg-based trader.
He said the Canadian dollar, which is slightly higher Wednesday morning, “is keeping canola pretty subdued and locked in place for the moment.”
If there was some news coming out of the United States/China trade talks, which started Wednesday, or some hard data on export sales that might create some movement. Until then canola will remain a “bit jittery” of any surprises, according to the trader.
Even with soybeans moving a little each way it hasn’t affected canola in any major way, he said.
Until the U.S. Department of Agriculture (USDA) releases its mass of data that piled up during the 35-day partial government shutdown, the trader said canola appears “to be content to remain where it is.” The USDA announced these reports will be released on Feb. 8.
About 13,300 canola contracts were traded as of 10:25 CST.