By Dave Sims, Commodity News Service Canada
WINNIPEG, September 11 (CNS) – Canola contracts on the ICE Futures Canada platform were weaker at 10:35 CDT on Monday, weighed down by harvest pressure and recent strength in the Canadian currency.
The Canadian dollar is well above 82 US cents, which continues to make it less attractive to buyers on the international market, than in months past.
Traders were also positioning themselves ahead of tomorrow’s supply and demand report from the USDA.
Losses in US soybeans were bearish for canola.
However, gains in vegetable oil helped to limit the losses.
Harvest in many parts of Alberta is lagging the rest of the Prairies.
About 12,000 canola contracts had traded as of 10:35 CDT.
Milling wheat, barley and durum were all untraded.
Prices in Canadian dollars per metric ton at 10:35 CDT:
