By Dave Sims, Commodity News Service Canada
WINNIPEG, February 21 – Canola contracts on the ICE Futures Canada platform were slightly weaker Tuesday morning, tracking losses in vegetable oil.
Declines in US soybeans and a bearish technical bias contributed to the lower tone.
Many countries have turned their attention to supplies coming out of South America, which was bearish for US soybeans.
Crush margins are much lower than a month ago.
However, weakness in the Canadian dollar was supportive for canola as it made it more attractive to out-of-country buyers.
Canola is no longer considered as much of a bargain relative to other oilseeds as it was previously.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:48 CST:
