By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Jan. 10 (CNS Canada) – ICE Futures canola contracts were lower in sympathy with the Chicago Board of Trade soy complex at midday Thursday.
Bearish chart signals contributed to the losses in canola, as prices neared their contract lows.
Concerns over Chinese demand and a lack of significant scale-down buying interest also weighed on values, according to participants.
The lack of information from the United States Department of Agriculture as the U.S. government remains in shutdown mode kept some caution in the agricultural markets as well, with the absence of a number of key reports increasing the volatility in the futures, said a trader.
About 6,600 canola contracts traded as of 10:55 CST.
