By Phil Franz-Warkentin, Commodity News Service Canada
September 29, 2014
Winnipeg – Canola contracts on the ICE Futures Canada were holding onto small gains Monday morning, in relatively quiet activity as the market found some spillover support from the firmer tone in the US soy complex.
The USDA releases updated stocks data on Tuesday, and short-covering ahead of that report was behind some of the gains in soybeans, said a Winnipeg-based broker.
Rainfall in some parts of Western Canada over the weekend, and the resulting harvest delays, provided underlying support for canola as well, according to the broker.
Statistics Canada releases updated production estimates on Friday, October 3, and positioning ahead of that report should be a feature over the next few days.
The Canadian dollar was slightly firmer Monday morning, but was still trading below the 90 US cent mark.
Only about 3,000 canola contracts had traded as of 10:46 CDT.
Milling wheat, durum, and barley futures were untraded and unchanged.
Prices in Canadian dollars per metric ton at 10:46 CDT:
