By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Oct. 10 (CNS Canada) – ICE Futures Canada canola contracts were posting small gains Tuesday morning, as activity resumed following the Thanksgiving Day long weekend.
Persistent concerns over harvest delays in parts of Alberta and Saskatchewan provided some underlying support, while early advances in Chicago Board of Trade soybeans added to the firmer tone, according to participants.
The nearby technical bias also remains pointed higher, although resistance was holding to the upside.
The Canadian dollar was trading back above 80 US cents Tuesday morning, which put some pressure on the canola market. Steady farmer selling and a lack of significant end user demand also kept a lid on prices.
About 7,000 canola contracts had traded as of 9:00 CDT.
Milling wheat, durum, and barley futures were all untraded.
