By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Oct. 2 (CNS Canada) – ICE Futures Canada canola contracts were weaker at midday Monday, taking some direction from the downturn in the Chicago Board of Trade soy complex.
Better-than-expected harvest weather in northern Alberta and the Peace River district over the weekend added to the softer tone, according to a broker. However, he added that there were still areas where cool and wet conditions caused delays.
Ample nearby supplies weighed further on prices, as the latest Canadian Grain Commission data showed farmers were still making steady deliveries off of the combine.
On the other side, a weaker tone in the Canadian dollar helped limit the losses as the currency dipped below 80 US cents. Chart support was also holding at C$490 per tonne in the November contract.
About 10,500 canola contracts had traded as of 10:48 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.