ICE Canola Narrowly Mixed In Thin Trade

Exporter and domestic crusher demand was said to be behind some of the buying interest in canola. Spring road bans, and the resulting slowdown in nearby farmer deliveries, were also underpinning the market, according to traders.

Canola should find spillover support from the calls for a firmer tone in the CBOT soy complex, according to traders. Malaysian palm oil futures were also up in overnight trade.

Part of the expected strength in soybeans was tied to wet weather conditions in Brazil that will delay harvest conditions. However, traders also pointed out that the record large South American crops will still eventually find their way into the market, limiting the upside. Expectations for increased North American soybean and canola acres this spring also kept the new crop canola contracts under pressure.

The Canadian dollar was holding steady Tuesday morning, providing little direction for canola.

Only 42 canola contracts had traded as of 8:43 CDT.

Western barley futures were untraded and unchanged in overnight activity.

Prices in Canadian dollars per metric ton at 8:43 CDT: