By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Oct. 11 (CNS Canada) – ICE Futures Canada canola contracts were bouncing around within a narrow range Wednesday morning, although the bias turned higher as the market took some direction from Chicago Board of Trade soyoil.
Persistent concerns over harvest delays in parts of Alberta and Saskatchewan remained supportive, according to participants.
The Canadian dollar was slightly firmer in early activity, moving back above 80 US cents, which put some pressure on canola.
The USDA is set to release its latest production estimates on Thursday, and positioning ahead of the data is expected to keep some caution in the North American grain and oilseed markets.
About 4,500 canola contracts had traded as of 8:56 CDT.
Milling wheat, durum, and barley futures were all untraded.
