By Dave Sims, Commodity News Service Canada
WINNIPEG, November 23 – Canola contracts on the ICE Futures Canada platform were lower Wednesday morning, weighed down by losses in the US soy complex.
Losses in crude oil and European rapeseed futures added to the declines.
Prospects for a big crop in South America were also bearish for canola.
However, the Canadian dollar was weaker relative to its US counterpart today, which made canola more attractive to out-of-country buyers.
Crushers continue to process high volumes of canola which was supportive.
Crop watchers are still uncertain how much canola is left on fields in Western Canada. The harvest appears to be over for much of the Prairies.
About 5,500 canola contracts had traded as of 8:50 CST.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:50 CST:
