By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Aug. 13 (CNS Canada) – ICE Futures canola contracts were mixed at midday Monday, although the bias was lower in the most active months amid ideas that the market was looking overpriced compared to other oilseeds.
A shift to cooler weather across much of Western Canada, after extreme heat hit many areas over the weekend, also weighed on values, according to participants.
However, expectations that the hot and dry weather cut into yield prospects provided some support. Gains in Chicago Board of Trade soybeans and a softer tone in the Canadian dollar also provided some support.
About 6,000 canola contracts had traded as of 10:59 CDT.
