The ICE Futures canola market was holding onto small gains in the most active contracts at midday Friday, although activity was thin and choppy ahead of a much-anticipated report from the U.S. Department of Agriculture.
The USDA's supply/demand estimates will be released at 12:00 p.m. ET, with any surprises in the data likely to dictate where the markets move by the close. Updated yield and stocks data will be followed closely.
Gains in the Chicago soy complex and a slightly weaker tone in the Canadian dollar contributed to the strength in canola at midday.
European rapeseed and Malaysian palm oil futures were also up.
Canadian crop conditions remain relatively favourable in most areas, although some areas of concern persist while many fields are well behind normal in development.
About 9,600 canola contracts traded as of 11:20 ET.
Prices in Canadian dollars per metric tonne at 11:20 ET:
Canola Nov 872.00 up 5.10 Jan 879.10 up 4.10 Mar 885.10 up 4.20 May 886.90 up 3.70
(END) Dow Jones Newswires
08-12-22 1148ET
