By Dave Sims, Commodity News Service Canada
WINNIPEG, September 22 – Canola contracts on the ICE Futures Canada platform were stronger Friday morning, taking strength from gains in the US soy complex.
Cool and wet weather in Western Canada over the past few days delayed the harvest in certain areas, which was supportive.
Spread-traders appear to be buying canola and selling soy, according to an analyst in Winnipeg.
The technical bias is pointed higher.
However, there are ideas large funds are preparing to liquidate long positions, which threw some uncertainty into the market.
The Canadian dollar is looking quite strong, which weighed on canola’s export potential.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:50 CDT:
