Price changes included in this version.
By Terryn Shiells, Commodity News Service Canada
Winnipeg, March 12 – Canola contracts on the ICE Futures Canada platform were lower Wednesday morning, following the sharp declines seen in Chicago soybeans and soyoil.
Spillover pressure from the losses seen in Malaysian palm oil and European rapeseed futures overnight added to the bearish tone, analysts said.
Profit taking and a pickup in farmer selling following Tuesday’s advances further undermined values.
However, the downswing in the value of the Canadian dollar, which was down almost a quarter of a cent against the US dollar, limited the declines.
As of 8:44 CDT Wednesday, about 3,450 contracts had traded.
Milling wheat, durum and barley futures were untraded following price revisions to wheat after the close on Tuesday.
Prices in Canadian dollars per metric ton at 8:44 CDT:
