By Dave Sims, Commodity News Service Canada
WINNIPEG, July 10 – Canola contracts on the ICE Futures Canada platform were mostly higher Thursday morning following a correction in the soy complex.
Canola traded on both sides of unchanged during the overnight session.
Traders likely took profits in the lead-up to the release of the USDA Crop Production and World Agricultural Supply and Demand Estimates on Friday, according to an analyst.
Flooding in the eastern Prairies continues to support values.
European rapeseed and palm oil are both firmer.
The Canadian dollar is weaker against its US counterpart.
Canola has lost the price advantage it once held over other oils which is pressuring values, according to an analyst.
About 1,800 canola contracts had traded as of 8:35 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:35 CDT:
