By Dave Sims, Commodity News Service Canada
WINNIPEG, April 23 (CNS) – Canola contracts on the ICE Futures
Canada platform were softer at midday Monday, tracking declines in
vegetable oil markets.
Canola is getting quite expensive relative to other oilseeds.
“Exports are running behind last year and the crush is running
behind last year,” noted a trader in Winnipeg.
Temperatures across Western Canada have warmed up considerably
in the past week, which dragged on values.
However, the Canadian dollar was roughly half a cent lower,
relative to its U.S. counterpart, which made canola more attractive
to foreign buyers.
Short-covering was a feature of the morning’s activity.
About 13,000 canola contracts had traded as of 10:49 CDT.
Prices in Canadian dollars per metric ton at 10:49 CDT:
