Also the uncertainty of production has been a constant factor of underlying support keeping canola prices firm, market watchers said.

An analyst said, approximately 30% of production is likely lost due to the wet weather conditions and unseeded acres in Canada’s grainbelt.

There was some farmer selling seen from Alberta producers but there was little to no movement of crop coming from producers in Manitoba and Saskatchewan, which was supportive of futures.

Speculative interest within the market was also supportive for canola. Stronger US markets were also an underpinning factor, however, the gains seen from those markets were cancelled out by a high trading Canadian dollar, a market participant said.

There was no new export business within the market. Analysts said export business was decreasing because of how expensive trading would be to foreign markets.

Also, domestic crusher demand has slowed due to margins decreasing. However, margins are expected to rise, a broker said. There were an estimated 7,718 canola contracts traded at 10:25 am CDT. There was no western barley futures traded as of 10:25 am CDT.

Prices in Canadian dollars per metric ton at 10:25 am CDT: