By Dave Sims, Commodity News Service Canada
WINNIPEG, June 26 – Canola contracts on the ICE Futures Canada platform were narrowly mixed Thursday morning, following choppy trade as investors position themselves ahead of tomorrow’s release of the Statistics Canada acreage report.
The near-term contracts have been higher on speculation while the more deferred contracts have seen volatility with some profit-taking.
Palm oil is down slightly while the soy complex is mostly higher.
The Canadian dollar is still above 93 cents US which is a bearish force hanging over the market.
Questions surrounding how many acres could be lost in Western Canada due to excess water, continues to add to volatility.
About 1,200 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:
