By Dave Sims, Commodity News Service Canada
WINNIPEG, MB, January 4, 2018 (CNS) – Canola contracts on the ICE Futures Canada platform were mostly lower Thursday morning, in sympathy with the U.S. soy complex.
Speculative selling was a feature of the morning’s activity.
Losses in Malaysian palm oil futures undermined the market. Weather conditions across Western Canada have turned milder, which should encourage more farmer selling.
The technical bias is pointed lower.
However, forecasts calling for hot, dry weather to fall over Argentina in the coming days, threw a weather premium into the market.
Global demand for oilseeds remains strong.
Prices in Canadian dollars per metric ton at 8:55 CST:
