By Dave Sims, Commodity News Service Canada
WINNIPEG, Aug. 28 (CNS) – Canola contracts on the ICE Futures platform were lower at midday Tuesday, tracking losses in the Chicago Board of Trade soy complex.
The Canadian dollar was over a quarter of a cent higher, relative to its American counterpart, which made canola less attractive to out-of-country buyers.
Cooler weather has set in across the Prairies and harvest is slowly kicking into gear across Western Canada.
Canola remains expensive compared to soybeans.
However, there is still uncertainty about the state of canola yields and there are some ideas canola is due for a bounce.
About 8,000 canola contracts had traded as of 10:50 CDT.
Prices in Canadian dollars per metric ton at 10:50 CDT:
