By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Oct. 12 (CNS Canada) – ICE Futures Canada canola contracts were bouncing around within a narrow range Thursday morning, lacking any clear direction as traders await the release of the US Department of Agriculture’s monthly supply/demand report at 11:00 CDT.
Traders are generally expecting to see a slight increase in US soybean yields in the report, with any surprises in the data likely to set the tone for the remainder of the day.
Persistent concerns over harvest delays in parts of Alberta and Saskatchewan remained supportive for canola, according to participants.
The Canadian dollar was slightly weaker in early activity, but held above the 80 US cent mark.
About 3,500 canola contracts had traded as of 8:53 CDT.
Milling wheat, durum, and barley futures were all untraded.
