By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, July 17 (CNS Canada) – ICE Canada canola contracts were narrowly mixed Monday morning, after trading to both sides of unchanged in choppy overnight activity.
A softer tone in Chicago Board of Trade soybeans accounted for some spillover selling pressure in canola. Relatively favourable crop conditions across most of Western Canada and the recent strength in the Canadian dollar contributed to the declines in the Winnipeg market.
However, there are still enough areas of concern across the Prairies to keep some weather premiums in the futures, according to participants.
Canola was also said to be finding some support from a chart standpoint.
About 2,600 canola contracts had traded as of 8:53 CDT.
Milling wheat, durum, and barley futures were all untraded.
