By Dave Sims, Commodity News Service Canada
WINNIPEG, June 10 – Canola contracts on the ICE Futures Canada platform were bouncing around unchanged at 8:55 CDT on Friday.
Traders were positioning themselves ahead of the release of the USDA’s World Agricultural Supply and Demand Estimates Report which is due out at 11:00 a.m. CDT.
Losses in crude oil and the vegetable oil market weighed on values.
The Canadian dollar was higher relative to its US counterpart, which made canola less desirable to foreign buyers.
However, commercial demand for oilseeds was strong which limited the losses.
Gains in US soybeans were supportive for values.
About 5,700 canola contracts had traded as of 8:55 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
