By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, July 30 (CNS Canada) – ICE Futures canola contracts were trading to both sides of unchanged Monday morning in thin and choppy activity, although the bias was turning higher in the most active front months.
Gains in Chicago Board of Trade soybeans provided spillover support for canola, according to participants.
Persistent dryness concerns in parts of Western Canada also underpinned the futures, although conditions remain relatively favourable for crop development overall.
About 1,300 canola contracts had traded as of 9:05 CDT. Monday marks the first day that canola futures are being traded out of New York instead of the former Winnipeg-based clearing operations.
