By Jade Markus, Commodity News Service Canada
WINNIPEG, October 28 – ICE Canada canola contracts were mixed, but generally higher, in early activity on Friday.
Spill over support from advances in the Chicago Board of Trade soy oil market propped up canola.
Adverse harvest weather in Western Canada added to the gains, with ideas that some canola crops will need to overwinter underpinning the market.
However, overnight weakness in the Malaysian palm oil market limited strength ahead of the weekend.
The market may also be susceptible to profit-taking, analysts say.
The Canadian dollar was mostly unchanged against its US counterpart Friday morning.
About 5,682 canola contracts had traded as of 8:48 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
