By Dave Sims, Commodity News Service Canada
WINNIPEG, April 26 (CNS) – Canola contracts on the ICE Futures Canada platform were mixed at midday Thursday, as traders took positions ahead of tomorrow’s acreage estimates by Statistics Canada.
Most analysts expect Friday’s report to call for record canola plantings in Western Canada.
Warm weather in Western Canada is creating ideas many regions could see some planting by next week.
Canola is looking pricey relative to other oilseeds, which was bearish.
However, weakness in the Canadian dollar was lending support to some of the more deferred contracts.
Gains in the U.S. soy complex were supportive for canola.
About 9,500 canola contracts had traded as of 10:35 CDT.
Prices in Canadian dollars per metric ton at 10:35 CDT:
