By Jade Markus, Commodity News Service Canada
WINNIPEG, February 9 – ICE Canada canola contracts were mostly higher, in early activity on Thursday.
Front contracts were underpinned by a weather-premium related to South American production.
Advances in the Chicago Board of Trade (CBOT) soyoil market further underpinned values.
Ideas that stocks of canola could be tight this year added to the upside.
However, deferred contracts were feeling pressure from advances in the Canadian dollar.
Weakness in the CBOT soybean market, in positioning ahead of United States Department of Agriculture (USDA) data, also capped gains.
About 7,479 canola contracts had traded as of 8:52 a.m. CST.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:52 a.m. CST:
