By Dave Sims, Commodity News Service Canada
WINNIPEG, August 25 – Canola contracts on the ICE Futures Canada platform were lower Friday morning, due to technical selling.
Losses in the US soy complex and Malaysian palm oil were bearish for values.
The technical bias is tilted to the downside.
Harvest has begun in some of the more advanced canola fields on the eastern Prairies.
However, milder weather conditions in Western Canada, slow farmer selling and expectations the US will impose duties on some bio-diesel imports, provided strength to the market.
Tight supplies of canola in Canada were bullish for prices.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 9:10 CDT:
