By Jade Markus, Commodity News Service Canada
WINNIPEG, February 10 – ICE Canada canola contracts were slightly lower on Friday, pressured by advances in the Canadian dollar.
A stronger loonie is bearish for canola, as it makes Canadian commodities less appealing to international buyers.
Traders could also move to take profits, market watchers say, which could further pressure values throughout the day.
However, strength in the US soy complex limited losses.
A stronger technical bias also underpinned values.
About 10,133 canola contracts had traded as of 8:44 a.m. CST.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:44 a.m. CST:
