By Dave Sims, Commodity News Service Canada
WINNIPEG, October 5 – Canola contracts on the ICE Futures Canada platform were slightly higher Thursday morning, due to action in the Canadian currency.
The Canadian dollar was lower, relative to its US counterpart, which made canola more enticing to international buyers.
Gains in US soybeans, Malaysian palm oil and European rapeseed futures were supportive for canola.
Demand from crushers and exporters was supportive.
However, weather conditions across the Prairies have improved and harvest is slowly resuming.
Rain in Brazil has helped replenish soil moisture in major soybean growing areas, which was bearish.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 9:00 CDT: