By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Feb. 7 (CNS Canada) – ICE Futures canola contracts were narrowly mixed Thursday morning, holding within a dollar of unchanged as traders adjusted their positions ahead of a number of reports from the United States Department of Agriculture on Friday.
Soybean futures at the Chicago Board of Trade were weaker ahead of the monthly supply/demand numbers and backlogged USDA data that was originally scheduled for release during the U.S. government shutdown.
However, weakness in the Canadian dollar provided some underlying support for the canola market, as the currency was down another third of a cent relative to its U.S. counterpart after falling sharply over the past week.
About 5,500 canola contracts had traded as of 8:44 CST.
Prices in Canadian dollars per metric ton at 8:44 CST:
Price Change
Canola Mar 484.70 dn 0.10
May 493.00 up 0.20
Jul 500.20 unchanged
Nov 498.60 up 0.50
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