By Dave Sims, Commodity News Service Canada
WINNIPEG, September 16 – Canola contracts on the ICE Futures Canada platform were mostly lower on choppy trading Tuesday morning following soyoil.
The looming harvest is expected to keep a lid on prices, a trader said.
The market is feeling some resistance on technical indicators, according to a report. The firmer tone in the Canadian dollar also weighed on values.
European rapeseed and palm oil were both higher which limited the losses.
A short-term technical bias has turned supportive and gains are building on themselves, according to an analyst.
Weather concerns in Western Canada continue to underpin futures, according to a report.
About 4,700 canola contracts had traded as of 8:35 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:35 CDT:
Price Change
Canola Nov 415.70 dn 0.30
Jan 420.00 dn 0.40
Mar 426.00 up 0.50
Milling Wheat Oct 192.00 unch
Dec 199.00 unch
Durum Oct 288.80 unch
Dec 294.80 unch
Barley Oct 123.50 unch
Dec 125.50 unch
