By Jade Markus, Commodity News Service Canada
WINNIPEG, June 21 – The ICE Canada canola market was weaker in early activity on Wednesday.
Front contracts declined with reports of mostly-favourable crop conditions in North America and a weaker technical bias.
However, advances in the Chicago Board of Trade soy complex limited canola’s downside in deferred contracts.
A weaker Canadian dollar was also bullish for the market, as it makes canola more affordable to international buyers.
Tight canola stocks also limited the market’s losses on Wednesday.
About 1,675 canola contracts had traded as of 8:42 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:42 CDT:
