By Terryn Shiells, Commodity News Service Canada
Winnipeg, March 25 – Canola contracts on the ICE Futures Canada platform were slightly higher amid quiet, choppy two-sided trade Tuesday morning.
Some spillover support came from the firmer tone in Malaysian palm oil futures overnight. Though, Chicago soybean, soyoil and European rapeseed futures were mixed in early and overnight activity.
Steady commercial demand, slow farmer selling and some follow-through buying on Monday’s strong close helped to support the market.
On the other side, ongoing worries about logistics problems, the stronger Canadian dollar and large Canadian canola supplies were bearish.
As of 8:46 CDT Tuesday, about 1,500 contracts had traded.
Milling wheat, durum and barley futures were untraded following price revisions to wheat after the close on Monday.
Prices in Canadian dollars per metric ton at 8:46 CDT:
