By Dave Sims, Commodity News Service Canada
WINNIPEG, August 24 – Canola contracts on the ICE Futures Canada platform were slightly weaker at 10:30 CDT on Wednesday, as losses in the US soy complex pressured prices.
Losses in crude oil and the vegetable oil market also weighed on values.
Although Statistics Canada pegged canola production at a smaller-than-expected numbers, many analysts have simply shrugged off the analysis.
China is scheduled to limit the amount of dockage allowed in imports of Canadian canola, which is causing some unease in the market.
However, the Canadian dollar was lower relative to its US counterpart, which made canola more attractive to international buyers.
Commercial demand is steady, according to a report.
About 4,800 canola contracts had traded as of 10:30 CDT.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 10:30 CDT:
