By Jade Markus, Commodity News Service Canada
WINNIPEG, April 20 – ICE Canada canola contracts were mixed, but mostly stronger in early activity on Wednesday, as traders positioned ahead of Statistics Canada data.
StatsCan is set to release its seeding intentions report on Thursday, April 21.
The Canadian dollar was weaker against its US counterpart in early activity, which supported canola.
Malaysian palm oil closed stronger overnight, which added to the advances.
Canola has moved out of a sideways trading range to the upside, which is bullish.
But losses in Chicago Board of Trade soybeans and soy oil limited gains in early activity.
The market may see some investor-profit taking today, which could further cap gains.
About 7,498 canola contracts had traded as of 8:27 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:27 CDT:
