By Dave Sims, Commodity News Service Canada
WINNIPEG, June 28 – Canola contracts on the ICE Futures Canada platform were weaker Wednesday morning, weighed down by strength in the Canadian currency.
The Canadian dollar was nearly half a cent higher relative to the US currency, which made canola less attractive to domestic crushers and foreign buyers.
Oilseed crops in North America look good at this point, which was bearish for prices.
Large soybean exports from South America dragged on values.
However, gains in the US soy complex limited the losses.
Traders will likely be hesitant to push the market too far one way or the other as Statistics Canada is scheduled to release its acreage report tomorrow.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:50 CDT:
