By Dave Sims, Commodity News Service Canada
WINNIPEG, January 10 – Canola contracts on the ICE Futures Canada platform were hanging around unchanged Tuesday morning, as a rising Canadian dollar offset gains in US soy.
The canola market’s dominant March contract was encountering technical resistance at the C$500 per tonne mark.
Traders have begun to take positions ahead of Thursday’s USDA report.
Large global supplies of oilseeds were also overhanging the market.
Losses in Malaysian palm oil and European rapeseed futures were bearish for the market.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:58 CST:
