By Dave Sims, Commodity News Service Canada
WINNIPEG, January 30 – Canola contracts on the ICE Futures Canada platform were lower Monday morning, tracking losses in the US soy complex.
Canola’s recent rise on the charts has made it less of a deal than in the past.
The crop in South America, despite a few weather concerns, looks to be massive, which was bearish.
Speculator funds could move quickly to liquidate long positions if canola drops too far, said an analyst in Winnipeg.
Losses in vegetable oil added to the downside.
However, global demand for oilseeds remains firm.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:55 CST:
