By Brandon Logan, Commodity News Service Canada
WINNIPEG, Jan. 31 – Canola contracts on the ICE Futures
Canada platform were mixed at 10:49 CST on Friday, as trade was
choppy for most of the morning, industry watchers said.
Declines seen in the value in CBOT soyoil and European
rapeseed futures were bearish for canola, participants said.
Expectations of a large soybean crop in South America also
weighed on prices, as did concerns that US soybean shipments to
China would be cancelled.
However, on the other side, an extremely weak Canadian
dollar and ideas that the market is oversold and canola is
undervalued compared to other oilseeds were supportive, analysts
said.
About 10,700 canola contracts had traded as of 10:49 CST.
Milling wheat, durum and barley futures were untraded
following price revisions to wheat after the close on Thursday.
Prices in Canadian dollars per metric ton at 10:49 CST:
