By Dave Sims, Commodity News Service Canada
WINNIPEG, March 27 (CNS) – Canola contracts on the ICE Futures Canada platform were mixed at midday Tuesday. The market was mostly higher, pushed up by weakness in the Canadian currency, relative to its U.S. counterpart.
Speculative selling added to the upside along with a recent uptick in international exports of canola, a trader in Winnipeg said.
Traders were positioning themselves ahead of the release of the USDA’s seeding intentions report. That is scheduled to come out on Thursday.
However, losses in vegetable oil weighed down the more deferred contracts.
Canola is getting more expensive relative to other oilseeds.
About 7,800 canola contracts had traded as of 10:35 CDT.
Prices in Canadian dollars per metric ton at 10:35 CDT:
