By Dave Sims, Commodity News Service Canada
WINNIPEG, October 21 – Canola contracts on the ICE Futures Canada platform were mostly lower Tuesday morning, as a stronger Canadian dollar offset spillover buying in Malaysian palm oil, European rapeseed and soyoil.
Technical selling, the advancing large US soybean harvest and favourable weather for Canadian crops also pressured values.
Some areas of the US Midwest have seen their harvest activity delayed due to wet weather, which limited the declines.
The technical bias is pointed to the downside with some volatility expected, according to an analyst.
About 2,100 canola contracts had traded as of 8:35 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:35 CDT:
