By Dave Sims, Commodity News Service Canada
WINNIPEG, September 14 (CNS) – Canola contracts on the ICE Futures Canada platform were higher at 10:35 CDT on Thursday, following gains in Chicago soybeans.
Rain is disrupting the harvest in the Western Prairies, which was supportive for the market.
Weakness in the Canadian dollar helped make canola more attractive to international buyers.
Demand for oilseeds remains steady and there are still ideas canola is oversold.
Losses in vegetable oil were bearish for canola.
The rain is not expected to last more than a few days meaning seasonal harvest pressure is still a factor.
About 13,000 canola contracts had traded as of 10:35 CDT.
Milling wheat, barley and durum were all untraded.
Prices in Canadian dollars per metric ton at 10:35 CDT: