By Dave Sims, Commodity News Service Canada
WINNIPEG, July 23 – Canola contracts on the ICE Futures Canada platform were lower at 10:45 CDT Thursday, taking direction from the US soy complex.
The Canadian dollar was higher against its US counterpart which made canola less attractive to buyers overseas.
Traders are waiting to see the CWB’s findings from a crop tour being conducted this week across Western Canada. So far. the tour has seen many drought-stressed fields in parts of Saskatchewan and Alberta while Manitoba is generally looking better.
Malaysian palm oil futures were lower which contributed to the declines.
“Both specs and commercials are liquidating some positions,” said an analyst.
However, European rapeseed futures were firmer which limited the losses.
Recent moisture across the Prairies has helped limit the damage in certain areas, according to a report.
Around 8,200 contracts had traded as of 10:45 CDT, Thursday.
Milling wheat, barley and durum were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 10:45 CDT:
