By Dave Sims, Commodity News Service Canada
WINNIPEG, February 24 – Canola contracts on the ICE Futures Canada platform were lower Friday morning, tracking losses in US soybeans and action in the Canadian currency.
The Canadian dollar was slightly stronger relative to its US counterpart, which made canola less desirable on the international market.
Losses in European rapeseed futures contributed to the declines.
Canola crush margins lost roughly C$4 yesterday and are now at their lowest levels since June.
The soybean harvests in Brazil and Argentina are expected to be massive, which weighed on the market.
However, gains in US soyoil and Malaysian palm oil limited the losses.
Steady demand for oilseeds underpinned the market.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:58 CST:
