By Phil Franz-Warkentin, Commodity News Service Canada
March 20, 2015
Winnipeg – Canola contracts on the ICE Futures Canada platform were narrowly mixed at midday Friday, as conflicting outside market forces kept activity thin and choppy ahead of the weekend.
A rally in the CBOT soy complex provided some underlying support for canola, according to participants. However, canola was already up on Thursday, when beans moved lower, which limited the upside potential.
A stronger tone in the Canadian dollar was also bearish for canola, as the rising currency makes exports less attractive to international buyers and also cuts into domestic crush margins.
The large South American soybean crop also continued to weigh on the oilseeds in general, according to traders.
About 6,700 canola contracts had traded as of 10:45 CDT.
Milling wheat, durum and barley were all untraded.
Prices in Canadian dollars per metric ton at 10:45 CDT:
