By Dave Sims, Commodity News Service Canada
WINNIPEG, March 1 (CNS) – Canola contracts on the ICE Futures Canada platform were mostly lower Thursday morning, tracking losses in vegetable oil markets.
Declines in U.S. soybeans and farmer selling added to the downside.
There are ideas the market is slightly overbought.
However, the most-active May contract was receiving technical support.
The Canadian dollar remains relatively weak while South American weather issues lent support to the market.
Prices in Canadian dollars per metric ton at 8:58 CST:
Price Change
Canola Mar 520.30 up 3.00
May 523.50 dn 0.50
Jul 528.00 dn 1.00
