By Dave Sims, Commodity News Service Canada
WINNIPEG, December 13 – Canola contracts on the ICE Futures Canada platform were mostly lower Tuesday morning, tracking action in the US soy complex.
Gains in Malaysian palm oil, European rapeseed futures and crude oil were supportive for the market.
Dry conditions in Argentina are starting to become a problem for soybean fields, according to various reports.
However, strength in the Canadian dollar was bearish for canola as it made the commodity less enticing to out-of-country buyers.
The crop in Brazil is expected to be massive, which undermined prices.
About 2,000 canola contracts had traded as of 8:53 CST.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:53 CST:
