By Dave Sims, Commodity News Service Canada
WINNIPEG, August 16 (CNS) – Canola contracts on the ICE Futures Canada platform were chopping around unchanged at 10:30 CDT on Wednesday, as losses in US soybeans were counterbalanced by action in the Canadian currency.
The Canadian dollar was nearly a third of a cent higher, relative to its US counterpart, which made canola less attractive to out-of-country buyers.
Losses in Malaysian palm oil were bearish for canola.
Large world stocks weighed on values.
However, advances in Chicago Board of Trade soyoil lent support to the market.
Concerns over heat-stress to fields in southern Saskatchewan and Alberta undermined prices.
About 4,200 canola contracts had traded as of 10:30 CDT.
Milling wheat, barley and durum were all untraded.
Prices in Canadian dollars per metric ton at 10:30 CDT:
