By Dave Sims, Commodity News Service Canada
WINNIPEG, April 8 – Canola contracts on the ICE Futures Canada platform were slightly lower at 8:53 CDT on Friday, pressured by action in the Canadian dollar and lower soyoil.
Malaysian palm oil suffered losses overnight which added to the declines.
The Canadian dollar was up over three-quarters of a cent relative to its US counterpart, which made canola less attractive to foreign buyers.
Large global soybean supplies were bearish while steady farmer selling cast resistance over values.
However, gains in soybeans helped limit the losses.
Concerns over dry parts of Western Canada were supportive.
The bias is to the upside, according to a report.
About 4,300 canola contracts had traded as of 8:53 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:53 CDT:
