By Dave Sims, Commodity News Service Canada
WINNIPEG, Sept. 13 (CNS) – Canola contracts on the ICE Futures platform were lower in choppy trade at midday Thursday.
“Volumes haven’t been that bad but they’re kind of lifeless,” said a trader in Winnipeg. “We’re kind of stuck slopping around a 50 cent range.”
Steady farmer selling weighed on contracts along with declines in Chicago Board of Trade soyoil.
Some traders may already be positioning themselves in advance of next week’s production report from Statistics Canada. The agency will release a new round of estimates on September 19 using satellite imagery.
However, cold and wet weather in Western Canada, particularly Alberta, is delaying the harvest.
About 6,800 canola contracts had traded as of 10:50 CDT.
Prices in Canadian dollars per metric ton at 10:50 CDT:
