By Jade Markus, Commodity News Service Canada
WINNIPEG, April 12 – ICE Canada canola contracts were weaker Wednesday morning.
The canola market was independently moving lower in early activity, despite strength in the Chicago Board of Trade soy complex.
Advances in the Canadian dollar were one source of pressure, as a stronger loonie has the potential to cut into export demand.
Ideas that North American oilseed production will be large this year were also bearish for values.
The Malaysian palm oil market was weaker overnight, which added spillover pressure to canola.
About 5,251 canola contracts had traded as of 8:49 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
