By Jade Markus, Commodity News Service Canada
WINNIPEG, January 29 – ICE Canada canola contracts were weaker in early activity on Friday, pressured by a stronger Canadian dollar and weakness in Chicago Board of Trade soy oil.
The Canadian dollar was stronger in early activity on Friday, supported by gains in crude oil and favourable domestic data, which made canola less appealing to buyers.
Spillover pressure from CBOT soy oil was also bearish for canola.
Market watchers say canola is testing key support levels, which appear to be holding.
Malaysian palm oil closed mostly lower.
About 2,944 canola contracts had traded as of 8:40 CST.
Milling wheat, durum, and barley futures were all untraded and
unchanged.
Prices in Canadian dollars per metric ton at 8:40 CST:
