By Dave Sims, Commodity News Service Canada
WINNIPEG, May 4 (CNS) – Canola contracts on the ICE Futures Canada platform were lower Friday morning, as declines in the U.S. soy complex offset weakness in the Canadian dollar.
Canola prices have been trending lower all weak and appear unable to shake out of the slump.
Farmers have hit the fields in several parts of Western Canada, taking advantage of the warm weather conditions.
Despite the recent downturn, canola remains expensive relative to other oilseeds.
However, slow farmer selling and the falling Canadian currency have helped prop up values.
The threat of a railroad strike in Canada and anticipated demand for China underpinned the market.
Prices in Canadian dollars per metric ton at 8:55 CDT:
