By Dave Sims, Commodity News Service Canada
WINNIPEG, March 31 – Canola contracts on the ICE Futures Canada platform were slightly lower Friday morning, tracking losses in the US soy complex and currency issues.
The Canadian dollar was higher compared to its US counterpart, which made canola less attractive on the international market.
Malaysian palm oil and European rapeseed futures were lower, which dragged on values.
Traders were positioning themselves in advance of today’s USDA Prospective Plantings Report from the USDA. That report is scheduled to be released at 11:00 CDT.
However, the ongoing decrease in stockpiles of Canadian canola was supportive.
Global demand for oilseeds remains strong.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:45 CDT:
