By Dave Sims, Commodity News Service Canada
WINNIPEG, November 1 – Canola contracts on the ICE Futures Canada platform were mostly higher on Wednesday, tracking slight gains in U.S. soyoil and recent weakness in the Canadian dollar.
Technical positioning was a feature in the market and speculators were doing some light buying.
Many soybean-growing fields in Brazil still need more rain.
The technical bias is pointed higher and the market took strength from gains in Malaysian palm oil.
However, the dominant January contract is feeling technical resistance at the C$520 per tonne mark.
Brisk farmer selling undermined prices.
Prices in Canadian dollars per metric ton at 8:58 CDT:
