By Phil Franz-Warkentin, Commodity News Service Canada
May 15, 2015
Winnipeg – Canola contracts on the ICE Futures Canada platform were narrowly mixed at midday Friday in thin and choppy activity, as participants were squaring positions ahead of the long weekend.
Canadian markets will be closed Monday for Victoria Day, while US markets will remain open.
A softer tone in CBOT soybeans and soyoil did put some spillover pressure on canola, according to a broker. However, he added that the underlying fundamentals are much less bearish for canola compared to soybeans.
Concerns over forecasts calling for cold temperatures in parts of Western Canada over the weekend were also supportive for canola, as frost could cause damage to any early emerging fields.
About 5,500 canola contracts had traded as of 10:56 CDT.
Milling wheat, durum, and barley were all untraded.
Prices in Canadian dollars per metric ton at 10:56 CDT:
