By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Sep. 21 (CNS Canada) – ICE Futures canola contracts were mixed Friday morning, bouncing around both sides of unchanged as the market saw some consolidation ahead of the weekend.
Ongoing concerns over harvest delays in parts of Western Canada provided some underlying support, according to participants. However, expectations that the crop will still be large, despite any delays, kept the market under pressure.
Visible stocks in the commercial pipeline rose above one million tonnes for the first time in two months in the latest report from the Canadian Grain Commission.
The Canadian dollar was slightly weaker in early activity. Chicago Board of Trade soybeans were also weaker, although soyoil was firmer.
About 4,000 canola contracts had traded as of 9:07 CDT.