By Dave Sims, Commodity News Service Canada
WINNIPEG, October 2 – Canola contracts on the ICE Futures Canada platform were mixed Monday morning, with the near-term values weighed down by losses in the US soy complex, while the more-deferred contracts were propped up by speculative buying.
Rain in South America has helped improve growing conditions for the soybean crop, which was bearish.
Seasonal harvest pressure was at play and canola is becoming more expensive relative to other oilseeds.
However, wet and cold weather across parts of Western Canada helped mitigate the losses.
Friday’s USDA stocks report showed US soybeans at levels that were lower than expected.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 9:00 CDT: