By Jade Markus, Commodity News Service Canada
WINNIPEG, April 21 – ICE Canada canola contracts were mixed on Friday, with post-data spreading a feature.
Statistics Canada released its principal field crop estimates early Friday morning, pegging canola area at a record-high 22.4
million acres, which added some pressure to deferred contracts.
“I think the focus for the moment is still old crop, farmers are still a tight holder of old crop stocks,” said one Winnipeg-based analyst.
Front contracts were also supported by supply-concerns and continued harvest delays.
“That strength is helping to hold the new crop together,” the analyst added.
About 24,818 contracts had traded as of 10:45 a.m. CDT.
Milling wheat, durum, and barley futures were all untraded.
