By Jade Markus, Commodity News Service Canada
WINNIPEG, May 4 – ICE Canada canola contracts were slightly stronger in choppy trading on Wednesday.
Weakness in the Canadian dollar propped up canola on Wednesday, as it makes the commodity more appealing to foreign buyers.
Commercial buying is still strong, analysts say, which was another supportive feature.
Strength in Chicago Board of Trade soy oil added to the advances.
But favourable seeding weather across Western Canada capped gains.
Malaysian palm oil closed lower overnight, which could pressure prices throughout the day.
About 5,996 canola contracts had traded as of 8:45 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:45 CDT:
