By Phil Franz-Warkentin, Commodity News Service Canada
April 2, 2015
Winnipeg – ICE Canada canola contracts were narrowly mixed Thursday morning, with losses in the most active nearby contracts and a firmer tone in the new crop months.
Markets will be closed on April 3 for Good Friday, and positioning ahead of the long weekend was expected to be a feature throughout Thursday’s session.
Profit-taking following yesterday’s rally accounted for some early selling in the canola market, according to participants.
Losses in CBOT soybeans put some spillover pressure on canola, but soyoil was holding steady and Malaysian palm oil was up in overnight activity.
The need to keep some weather premiums in the futures ahead of spring seeding was somewhat supportive, and helped underpin the deferred months.
About 2,900 canola contracts had traded as of 8:50 CDT.
Milling wheat, durum, and barley futures were all untraded after seeing some price revisions following Wednesday’s close.
Prices in Canadian dollars per metric ton at 8:50 CDT:
