By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Jan. 10 (MarketsFarm) – The ICE Futures canola market was holding onto small gains Friday morning in choppy trade, as participants await updated supply/demand data from the United States Department of Agriculture.
The USDA releases its monthly report at 11:00 CST, and any surprises in the data should set the tone for the remainder of the session. General expectations heading into the report are for downward revisions to U.S. soybean production and ending stocks.
The soy complex was narrowly mixed ahead of the report, providing little direction for canola.
The Canadian dollar was slightly firmer in early activity.
About 5,200 canola contracts had traded as of 8:45 CST.
Prices in Canadian dollars per metric ton at 8:45 CST:
Price Change
Canola Mar 484.10 up 0.90
May 492.90 up 0.70
Jul 497.60 up 0.60
Jan 498.50 up 0.10
