By Dave Sims, Commodity News Service Canada
WINNIPEG, October 23 – Canola contracts on the ICE Futures Canada platform were slightly lower Thursday morning, due to farmer selling and profit-taking.
Harvest conditions in the US are improving with drier weather which was bearish, according to a report.
Soybean fields in South America are receiving some much-needed rain for parched fields, which also put pressure on values, an analyst said.
The market received some technical support after breaking through the 30-day moving average during yesterday’s session.
Malaysian palm oil, soyoil and European rapeseed futures recorded gains which limited the losses.
About 5,500 canola contracts had traded as of 8:35 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:35 CDT:
