By Dave Sims, Commodity News Service Canada
WINNIPEG, January 12 (CNS) – Canola contracts on the ICE Futures Canada platform were slightly lower at 10:25 CST on Friday, as traders counted down the minutes until the release of the USDA’s supply and demand report.
There are expectations that the agency will raise both yield and production numbers for the U.S. crop. The report is due out at 11:00 CST along with a slew of other key data. Markets in the U.S. will be closed on Monday for Martin Luther King Jr. Day.
Losses in Chicago Board of Trade soybeans added to the downside.
Rain in South America has improved growing conditions for soybeans in key parts of Brazil and Argentina.
However, gains in CBOT soyoil, limited the losses.
Frigid temperatures in Western Canada are discouraging farmer deliveries.
About 4,500 canola contracts had traded as of 10:25 CST.
Prices in Canadian dollars per metric ton at 10:25 CST:
