By Terryn Shiells, Commodity News Service Canada
December 18, 2013
WINNIPEG – Canola contracts on the ICE Futures Canada platform were narrowly mixed amid choppy activity at 10:45 CST Wednesday.
Canola futures were underpinned by spillover support from the gains seen in Chicago soyoil futures and the weaker Candian dollar. The softer currency made canola more attractive to exporters.
Positive crush margins also encouraged some crusher buying which was also bullish for canola.
On the other side, spillover pressure from the losses in Chicago soybeans, Malaysian palm oil and European rapeseed futures was bearish.
The large Canadian canola crop, logistical problems in Western Canada and expectations of record large South American soybean production also weighed on prices.
As of 10:45 CST Wednesday, about 18,840 contracts had traded.
Milling wheat, barley and durum were untraded and unchanged following price revisions after the close on Tuesday.
Prices in Canadian dollars per metric ton at 10:45 CST
