By Dave Sims, Commodity News Service Canada
WINNIPEG, June 9 – Canola contracts on the ICE Futures Canada platform were mixed Friday morning.
The nearby July contract took support from weather issues in Western Canada along with slight gains in Chicago Board of Trade soybeans.
Visible commercial stocks are low, according to the Canadian Grain Commission, which was supportive.
Advances in Malaysian palm oil were bullish for values.
However, the Canadian dollar was stronger relative to its US counterpart, which made canola less attractive to out-of-country buyers and weighed down the more deferred contracts.
Large world supplies of soybeans were bearish for the market.
The USDA is scheduled to release its supply/demand report today, which could influence the direction of US soy, and by extension, canola.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:56 CDT:
