By Dave Sims, Commodity News Service Canada
WINNIPEG, September 25 (CNS) – Canola contracts on the ICE Futures Canada platform were slightly lower at 10:40 CDT on Monday, tracking losses in the US soy complex.
Forecasts are calling for better weather across Western Canada in the next few days.
Recent strength in the Canadian dollar and losses in vegetable oil markets were bearish for canola.
The technical bias is pointed lower.
However, wet weather in parts of Alberta has held up harvest efforts, which was supportive.
Export sales have picked up recently, according to a trader in Winnipeg. He adds canola is showing some independent strength too.
About 6,000 canola contracts had traded as of 10:40 CDT.
Milling wheat, barley and durum were all untraded.
Prices in Canadian dollars per metric ton at 10:40 CDT:
