By Jade Markus, Commodity News Service Canada
WINNIPEG, February 27 – ICE Canada canola contracts were lower in early activity on Monday, pressured by weakness in the Chicago Board of Trade soy oil market.
Trader-anticipation that the new US administration may not be supportive of biofuel use moving forward had a bearish effect on that market.
Canola is expensive compared with soy oil, which added further downside.
However, slight weakness in the Canadian dollar limited losses.
Strong commercial demand further capped declines.
About 6,276 canola contracts had traded as of 8:45 CST.
Milling wheat, durum, and barley futures were all untraded.
