By Dave Sims, Commodity News Service Canada
WINNIPEG, December 12 – Canola contracts on the ICE Futures Canada platform were weaker in follow-through selling on Tuesday.
Bearish technical signals and large supplies within Canada’s canola supply chain contributed to the downside.
Losses in the U.S. soy complex were bearish for canola.
The front-month canola contract is receiving some psychological support at the C$500 per tonne level.
Some of the selling looks overdone and canola could be priming for a bounce-back.
Prices in Canadian dollars per metric ton at 8:55 CST:
