By Dave Sims, Commodity News Service Canada
WINNIPEG, October 25 – Canola contracts on the ICE Futures Canada platform were stronger at 10:35 CDT on Wednesday, taking strength from currency issues and gains in U.S. soybeans.
The Canadian dollar fell this morning after the Bank of Canada decided not to raise interest rates.
The technical bias is pointed higher.
Snow in the Peace River area and parts of Northern Alberta are hampering farmers’ efforts to get the last of the harvest done.
However, weakness in U.S. soy oil limited the gains.
There is lots of canola in the pipeline right now, which was bearish.
About 19,000 canola contracts had traded as of 10:35 CDT.
Milling wheat, barley and durum were all untraded.
Prices in Canadian dollars per metric ton at 10:35 CDT:
