By Jade Markus, Commodity News Service Canada
WINNIPEG, June 23 – The ICE Canada canola market was mixed, but mostly unchanged in early activity on Friday.
On the upside, canola was underpinned by investor short-covering into the weekend, as the commodity has declined in recent sessions.
Traders are keeping a weather-related premium in the market-despite improving crop conditions-which also supported values.
A weaker Canadian dollar added to the market’s upside, as it makes canola more affordable for international buyers.
Tight stocks of the commodity was another bullish factor.
However, losses in Chicago Board of Trade soy oil pressured values, as did a weaker technical bias.
About 6,124 canola contracts had traded as of 9:00 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
