By Dave Sims, Commodity News Service Canada
WINNIPEG, July 26 – Canola contracts on the ICE Futures Canada platform were lower Wednesday morning, weighed down by speculative selling.
The Canadian dollar continues to hover around the 80 US cent mark, which is pressuring the crush margins and makes canola a tougher sell to international buyers.
The technical bias is pointed lower, and concerns over heat stress in Western Canada have eased somewhat.
However, gains in vegetable oil markets and tight commercial stocks limited the losses.
There are ideas the recent losses were overdone and canola could be set for a rebound.
Global demand for oilseeds remains strong.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:50 CDT:
