By Jade Markus, Commodity News Service Canada
WINNIPEG, April 13 – ICE Canada canola contracts were slightly higher in choppy trade on Thursday.
The bullish tone in other vegetable oil markets spilled over to canola, underpinning values.
Malaysian palm oil was stronger overnight, while the Chicago Board of Trade soy complex was higher in early activity on Thursday.
CBOT soybeans, soymeal, and soyoil advanced with trader-concern about planting delays in the US.
However, the market was feeling pressure from a stronger Canadian dollar, which continued to advance against its US counterpart Thursday morning.
Strength in the loonie is bearish for canola as it has the potential to cut into export demand by making the commodity less appealing to international buyers.
About 4,492 canola contracts had traded as of 9:01 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 9:01 CDT:
