By Dave Sims, Commodity News Service Canada
WINNIPEG, December 30 – Canola contracts on the ICE Futures Canada platform were weaker in thin trade at 10:45 CST on Friday, as investors squared positions ahead of the long weekend.
“Just more long liquidation,” said a trader in Winnipeg. “Buyers are non-aggressive; Canadian dollar is creeping up on the crushers so they’re not overly active either.”
A stronger Canadian dollar typically makes canola less attractive to buyers in other countries.
Weakness in US soy and European rapeseed futures added to the declines.
However, strength in Malaysian palm oil helped prop up values.
Canola is still considered a bargain compared to other oilseeds.
About 6,200 canola contracts had traded as of 10:45 CST.
Milling wheat, barley and durum were all untraded.
Prices in Canadian dollars per metric ton at 10:45 CST:
