By Dave Sims, Commodity News Service Canada
WINNIPEG, April 25 – Canola contracts on the ICE Futures Canada platform were correcting lower at 8:55 CDT on Monday, in the wake of Friday’s losses.
European rapeseed futures and Malaysian palm oil were both weaker which was bearish for values.
There are ideas that recent wet weather in Argentina has not been as damaging to the soybean crop as initially thought.
Farmers continue to sell canola at a steady pace ahead of seeding.
However, gains in the Chicago Board of Trade soy complex limited the losses.
The Canadian dollar was lower relative to its US counterpart which helped prop up canola.
Dry weather in parts of Western Canada continues to be a concern.
About 3,000 canola contracts had traded as of 8:55 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:55 CDT:
