By Dave Sims, Commodity News Service Canada
WINNIPEG, March 8 – ICE Canada canola contracts were lower Tuesday morning tracking losses in veg oil and financial markets.
Weak economic data out of China has weighed down many markets around the globe which is casting a bearish shadow over canola and other commodities, according to multiple reports.
The US soy complex, crude oil and European rapeseed futures were all lower.
The swiftly advancing South American soybean harvest was also dragging on values.
However, the Canadian dollar was lower relative to the US currency which made canola more attractive to buyers in many other countries.
Malaysian palm oil was higher which limited the losses.
About 1,400 canola contracts had traded as of 8:45 CST.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:45 CST:
