By Dave Sims, Commodity News Service Canada
WINNIPEG, September 7 – Canola contracts on the ICE Futures Canada platform were weaker Thursday morning, pushed down by action in the Canadian currency.
The Canadian dollar was nearly half a cent stronger, relative to its US counterpart, which made canola less attractive to its US counterpart.
Losses in the US soy complex added to the downside.
Harvest pressure undermined canola prices and large supplies of US soybeans are beginning to hit the market.
However, tightness in canola stocks lent strength to values.
Canola is enjoying some technical support, according to a report.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:58 CDT:
