By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, July 21 (CNS Canada) – ICE Canada canola contracts were mixed Friday morning, although the bias was lower in the most active months as weather uncertainty across North America had investors squaring positions heading into the weekend.
Hot and dry conditions remain a concern across many growing areas, but others have seen improvement and the likelihood of shifting forecasts kept some caution in the market.
A weaker tone in the Chicago Board of Trade soy complex and strength in the Canadian dollar put further pressure on canola, according to participants.
On the other side, tightening old crop supplies and the need to ration some demand provided underlying support
About 3,300 canola contracts had traded as of 8:57 CDT.
Milling wheat, durum, and barley futures were all untraded.
