By Dave Sims, Commodity News Service Canada
WINNIPEG, Aug. 23 (CNS) – Canola contracts on the ICE Futures platform were lower at midday Thursday, breaking below the key C$500 per tonne mark.
Weakness in the Chicago Board of Trade soy complex added to the downside while harvest pressure was also a factor.
There continues to be uncertainty about the size of this year’s crop.
“No one is confident putting a number on it,” said a trader in Winnipeg.
Farmer selling undermined values.
However, the Canadian dollar was weaker, relative to its American counterpart, which made canola more enticing to international buyers.
About 5,500 canola contracts had traded as of 10:50 CDT.
Prices in Canadian dollars per metric ton at 10:50 CDT:
