By Dave Sims, Commodity News Service Canada
WINNIPEG, March 12 (CNS) – Canola contracts on the ICE Futures Canada platform were mostly lower Monday morning, in speculative selling.
There are ideas canola has topped out on the charts.
This year’s large carryout situation and expectations for increased acreage in the spring were bearish.
Losses in soymeal undermined the market and farmer selling dragged on prices.
However, gains in U.S. soybeans and Malaysian palm oil were supportive for futures.
Continued dry weather in Argentina helped prop up values.
Prices in Canadian dollars per metric ton at 9:00 CST:
