By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Sept. 27 (CNS Canada) – ICE Futures Canada canola contracts were posting small losses Wednesday morning, seeing some follow-through selling after Tuesday’s move lower as the nearby technical signals turn bearish.
Losses in the Chicago Board of Trade soy complex, seasonal harvest pressure, and improving weather conditions for soybean seeding in South America all contributed to the early declines in canola, according to participants.
However, solid end user demand on the other side provided some underlying support. A slightly weaker tone in the Canadian dollar also helped limit the losses in canola.
About 6,500 canola contracts had traded as of 8:53 CDT.
Milling wheat, durum, and barley futures were all untraded.
