By Dave Sims, Commodity News Service Canada
WINNIPEG, April 10 (CNS) – Canola contracts on the ICE Futures Canada platform were lower at midday Tuesday, as traders positioned themselves against the USDA monthly supply and demand report.
Strength in the Canadian dollar was bearish for values.
The front-month May contract fell below the C$530 per tonne mark.
Canola is getting expensive relative to other oilseeds.
However, gains in the U.S. soy complex were supportive for prices.
Global demand for oilseeds remains strong.
About 14,000 canola contracts had traded as of 10:48 CDT.
Prices in Canadian dollars per metric ton at 10:48 CDT:
