By Dave Sims, Commodity News Service Canada
WINNIPEG, August 5 – Canola contracts on the ICE Futures Canada platform were lower Tuesday morning in choppy, low-volume trading as values were undermined by follow-through selling on recent losses.
Losses in the CBOT soy complex contributed to the weakness in canola, according to participants.
Malaysian palm oil was weaker, which weighed on values.
Bias in the oilseeds is likely to remain lower, according to a report.
A lack of significant farmer selling provided some underlying support, according to participants.
The Canadian dollar was down three tenths of a cent against its US counterpart, which was also bullish.
About 3,000 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:
