By Dave Sims, Commodity News Service Canada
WINNIPEG, September 4 (CNS) – Contracts on the ICE Futures canola platform were mostly higher Tuesday morning, propped up by weakness in the Canadian currency.
Gains in soyoil were bullish for the market.
Recent rains have delayed harvest in parts of Western Canada.
Friday’s crop production report from Statistics Canada pegged the 2018/19 crop at 19.2 million tonnes, which was below what traders were expecting. This continued to cast a supportive light on futures.
However, losses in soybeans put downward pressure on canola.
Crush margins remain weak and the front-month November contract was feeling some technical resistance.
Prices in Canadian dollars per metric ton at 8:55 CDT:
