By Jade Markus, Commodity News Service Canada
WINNIPEG, July 25 – ICE Canada canola contracts were weaker at midday on Monday, following losses in Chicago Board of Trade soybeans and soy oil.
The US soy complex declined with fund-liquidation in choppy trading.
“It’s limited the effectiveness of the supportive factor of the Canadian dollar,” said one Winnipeg-based trader.
The Canadian dollar lost ground against its US counterpart Monday morning, following declines in crude oil, which is supportive for canola as it makes the commodity more appealing to international buyers.
Malaysian palm oil closed lower overnight, which further pressured the market.
“But we’ve got some good volumes, some good two-sided activity,” the trader added.
About 12,936 contracts had traded as of 10:12 CDT.
Milling wheat, durum and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric tonne at 10:12 CDT:
