WINNIPEG, Manitoba--ICE Futures canola contracts were stronger at midday Thursday, underpinned by gains in Chicago soyoil as traders adjust positions ahead of the latest supply/demand estimates from the United States Department of Agriculture.

The USDA data will be released at 12:00 EDT, with any surprises likely to provide direction for the grains and oilseeds.

Chicago soyoil was posting gains ahead of the report, while soybeans were lower. European rapeseed and Malaysian palm oil futures were higher on the day.

Heavy rains in parts of Western Canada earlier this week continued to delay seeding operations, while overland flooding was also an issue in some areas.

Chart signals remain supportive for canola, with trendlines pointing higher.

An estimated 30,400 canola contracts traded as of 11:09 EDT.

Prices in Canadian dollars per metric tonne at 11:09 EDT: 


 
           Price      Change 
Jul       768.70     up 2.30 
Nov       777.30     up 2.80 
Jan       785.60     up 2.40 
Mar       791.70     up 1.80

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

06-11-26 1136ET