By Dave Sims, Commodity News Service Canada
WINNIPEG, December 29 – Canola contracts on the ICE Futures Canada platform continued to drift lower Friday morning. The market was weighed down by the surging Canadian dollar, which was at its highest point against the American dollar in over two months.
Losses in the United States soy complex dragged down prices.
More showers are forecast for Argentina, which should help protect the soil from hot temperatures.
The bias is pointed to the downside.
However, slow farmer selling across the Prairies helped mitigate the losses.
Traders were squaring positions ahead of the weekend.
Prices in Canadian dollars per metric ton at 9:00 CST:
