By Jade Markus, Commodity News Service Canada
WINNIPEG, May 25 – ICE Canada canola contracts were mixed in low-volume trade in early activity on Thursday.
Deferred contracts were gathering spill-over support from advances in US oilseed markets.
Chicago Board of Trade soybeans and soy oil strengthened Thursday morning, underpinned by adverse seeding weather in the US.
A lower Canadian dollar also had a bullish effect on values.
The loonie declined against its US counterpart in early activity, which is supportive for canola, as it makes Canadian commodities more appealing to international buyers.
However, front contracts were feeling pressure from favourable seeding conditions in Western Canada.
This year, producers are expected to seed a record-large crop, which is bearish.
About 735 canola contracts had traded as of 8:45 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:45 CDT:
