By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Aug. 4 (CNS Canada) – ICE Canada canola contracts were narrowly mixed Friday morning in relatively thin and choppy activity as participants squared positions ahead of the long weekend.
Canadian markets will be closed Monday, August 7 for a civic holiday (Terry Fox Day in Manitoba), and the uncertainty over shifting weather patterns and movement in the US futures kept some caution in canola.
Conditions remain hot and dry in parts of Western Canada, lending support to the futures. However, weather for the developing US soybean crop is showing some improvement, and the resulting weakness in the Chicago futures put some pressure on canola.
The Canadian dollar was softer on Friday, which is supportive for canola.
About 1,350 canola contracts had traded as of 8:49 CDT.
Milling wheat, durum, and barley futures were all untraded.
