By Jade Markus, Commodity News Service Canada
WINNIPEG, April 25 – ICE Canada canola contracts were mixed in early activity on Tuesday.
Front contracts were feeling pressure from losses in the US soy complex.
Chicago Board of Trade soybeans, soy meal and soy oil were weaker Tuesday morning, declining with profit-taking and competing supplies from South America.
Overnight weakness in the Malaysian palm oil market was also bearish for canola.
However, deferred contracts were underpinned by weakness in the Canadian dollar.
The loonie lost about half a cent against its US counterpart on Tuesday, which is supportive for canola as it makes Canadian commodities more appealing for international buyers.
About 4,024 canola contracts had traded as of 8:40 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:40 CDT:
