By Dave Sims, Commodity News Service Canada
WINNIPEG, October 20 – Canola contracts on the ICE Futures Canada platform were mostly lower Monday morning, due to spillover selling in Malaysian palm oil, European rapeseed, and soyoil.
The Canadian dollar was slightly higher against the US dollar which pressured values.
Forecasts calling for rain in dry sections of Brazil were bearish as the rain is expected to benefit the soybean crop.
The technical bias is also pointed to the downside after values rebounded in recent sessions, according to an analyst.
Farmer selling has been sluggish, which limited the losses.
About 3,400 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:
