By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Sept. 26 (CNS Canada) – ICE Futures Canada canola contracts were trading to both sides of unchanged Tuesday morning, although the bias was shifting higher.
Seasonal harvest pressure remained a bearish influence in the background, while declines in Chicago Board of Trade soybeans also weighed on values.
However, canola has shown some strength relative to soybeans recently, and continued to hold up reasonably well on Tuesday. Solid end user demand, advances in CBOT soyoil, and persistent weather concerns in parts of the Prairies were all supportive.
About 3,000 canola contracts had traded as of 9:12 CDT.
Milling wheat, durum, and barley futures were all untraded.
