By Dave Sims, Commodity News Service Canada
WINNIPEG, July 7 – Canola contracts on the ICE Futures Canada platform were lower Monday morning as markets re-opened in the US following the Independence Day holiday on Friday.
Large losses in the soy complex to start the day contributed to the weakness in canola.
European rapeseed is weaker while palm oil is firmer.
The Canadian dollar is up about a tenth of a cent against its US counterpart.
Hot temperatures in the US Southern Plains are expected to put some stress on soybeans, however the soil moisture and irrigation are expected to remain adequate for most crops.
The eastern edge of the Canadian Prairies continues to be impacted by flooding. Canola acreage losses are still unknown at this point.
About 2,100 canola contracts had traded as of 8:37 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:37 CDT:
