By Terryn Shiells, Commodity News Service Canada
Winnipeg, Dec. 30 – Canola contracts on the ICE Futures Canada platform were mixed Tuesday morning, amid quiet, choppy trade. Much of the activity was linked to position squaring ahead of the New Year.
The canola market was also taking some direction from the mixed tone seen in the Chicago soy complex, according to analysts.
Some support came from strength in Malaysian palm oil values, though weakness in European rapeseed futures was bearish.
Further downward pressure came from the large global oilseed supply situation and generally good conditions for South American soybeans.
On the other side, continued slow farmer selling in Western Canada was supportive, as was steady commercial demand for canola.
As of 8:38 CST, about 1,375 contracts had traded.
Milling wheat, durum and barley futures were untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:38 CST:
