By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Sept. 15 (CNS Canada) – ICE Futures Canada canola contracts were bouncing around both sides of unchanged Friday morning, although the bias was turning higher as traders squared positions ahead of the weekend.
Cooler and wetter conditions across most of Western Canada are causing harvest delays in some areas, which lent some support to the futures. However, the forecasts look more favourable into the next week, which kept a lid on the upside.
Early strength in the Canadian dollar also weighed on canola, as the currency moved back above 82 US cents.
Soybeans and soyoil at the Chicago Board of Trade were holding near unchanged Friday morning, providing little direction for canola.
About 4,500 canola contracts had traded as of 8:54 CDT.
Milling wheat, durum, and barley futures were all untraded.
