By Jade Markus, Commodity News Service Canada
WINNIPEG, December 14 – ICE Canada canola contracts were mixed but mostly unchanged at midday on Wednesday.
Advances in the Chicago Board of Trade soy oil and Malaysian palm oil markets underpinned front contracts.
France’s rapeseed production is expected to be lower this year, which added to the upside.
However, strength in the Canadian dollar against its US counterpart limited gains.
A stronger loonie makes canola less appealing to international buyers.
“It’s kind of a quieter time of year for fundamental news, so we’re taking direction from outside markets,” said one Winnipeg-based trader.
About 10,889 contracts had traded as of 10:26 CST.
Milling wheat, durum and barley futures were all untraded and unchanged.
