By Dave Sims, Commodity News Service Canada
Winnipeg, October 26 – The ICE Futures Canada canola market finished higher on Thursday, as the Canadian currency continued to fall making canola more attractive to international buyers.
Gains in the vegetable oil market helped to prop up contracts.
Snow in Northern Alberta has severely hurt producers’ attempts to get the last of the harvest off.
Northern Brazilian soybean fields need more rain.
However, losses in US soybeans limited the gains.
Demand from end-users is muted right now due to the large volume of canola in the system.
Around 32,707 canola contracts were traded on Thursday, which
compares with Wednesday when around 36,328 contracts changed hands. Spreading accounted for 21,238 of the contracts traded.
ICE Futures Canada’s board of directors officially approved the delisting of the milling wheat, durum, and barley futures effective
today, October 26. The wheat and durum contracts never saw much activity since being introduced in 2012, while the barley futures
have also had no open interest since 2016.
