By Terryn Shiells, Commodity News Service Canada
Winnipeg, April 14 – The ICE Futures Canada canola market was narrowly mixed amid choppy two-sided activity Tuesday morning.
Some spillover support came from the advances seen in Chicago soybean and soyoil futures, as well as Malaysian palm oil, analysts said.
Slow farmer selling in Western Canada, as they wait for 2015/16 crop prospects to become clearer, was also underpinning prices.
On the other side, the large global oilseed supply situation weighed on prices, as did sentiment that the canola market’s long term technical bias remains pointed lower.
The upswing in the value of the Canadian dollar was also bearish, as it made canola less attractive to crushers and exporters.
As of 8:42 CDT Tuesday, about 4,050 contracts had traded.
Milling wheat, durum and barley futures were untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:42 CDT:
