By Jade Markus, Commodity News Service Canada
ICE Futures Canada canola ended lower on Thursday, in a slight correction after yesterday’s sharp advances.
Traders were reluctant to make any big moves, as US markets were closed for Thanksgiving.
However, ideas that soy oil’s recent rally, which had underpinned canola, may not be able to last pushed the market lower on Thursday.
The final crop report from Saskatchewan Agriculture shows about four per cent of the province’s canola is still in fields, which is better than market watchers had expected, and added to the downside.
About 13,696 canola contracts traded on Thursday, which compares with Wednesday when 61,219 contracts changed hands.
Milling wheat, durum and barley futures were all untraded and unchanged.
US markets were closed for Thanksgiving.
