By Dave Sims, Commodity News Service Canada
WINNIPEG, July 8 – Canola contracts on the ICE Futures Canada platform were mostly higher in choppy trade Tuesday morning seeing a continuation of yesterday’s firmer close.
Uncertainty over the extent of flood damage in the eastern Canadian Prairies is giving support to values which are still feeling the drag-down effects of last week’s USDA report. The report called for huge harvests of US corn and soybeans.
Soy oil and palm oil are both under pressure while European rapeseed is mostly firmer. Only soymeal was showing gains.
The Canadian dollar is little changed against its US counterpart.
About 3,200 canola contracts had traded as of 8:39 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:39 CDT:
