By Jade Markus, Commodity News Service Canada
WINNIPEG, March 22 – ICE Canada canola contracts were mixed, but mostly unchanged in choppy trade Wednesday morning.
Front contracts were feeling the bearish effects of spill-over losses from the US soy complex.
Chicago Board of Trade soybeans, soy meal and soy oil declined as Brazil’s oilseed harvest advances, which will cut into US export potential.
However, weakness in the Canadian dollar underpinned deferred canola contracts on Wednesday.
Losses in the loonie make canola more appealing on the international market, which is bullish.
Ideas that supplies of canola could be tight moving into the spring added to the upside in far contracts.
About 2,924 canola contracts had traded as of 8:52 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:52 CDT:
