By Dave Sims, Commodity News Service Canada
WINNIPEG, July 13 – Canola contracts on the ICE Futures Canada platform were lower Thursday morning, tracking losses in vegetable oil and US soybeans.
The Canadian dollar is near its highest point against the US greenback since April of 2016. Strength in the Canadian dollar typically weighs on canola exports as it makes the commodity less enticing to international buyers.
Cooler weather and recent rains across Western Canada have eased concerns about heat stress on the canola crop.
Strong soybean exports from South America weighed on values.
However, there are still enough areas on the Prairies, particularly in Saskatchewan and Alberta, to keep a weather premium in the market.
Demand for global oilseeds remains steady.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:55 CDT:
