By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Aug. 1 (CNS Canada) – ICE Futures canola contracts were weaker Wednesday morning, as losses in Chicago Board of Trade soybeans and soyoil weighed on values.
Renewed trade concerns accounted for some of the weakness in the oilseeds to start the day, as the United States and China were threatening fresh tariffs once again.
Relatively favourable North American crop conditions and expectations for large canola supplies also put some pressure on values, according to participants.
However, there are still enough areas of concern to keep some weather premiums in the market.
About 2,900 canola contracts had traded as of 8:58 CDT.
