By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Sept. 21 (CNS Canada) – ICE Futures Canada canola contracts were mostly Thursday morning, with losses in Chicago Board of Trade soybeans and soyoil behind some of the selling pressure.
Forecasts calling for better harvest conditions in parts of Western Canada over the next week added to the softer tone, as traders took back some of the weather premiums that had built up in the futures in recent days.
Active farmer deliveries added to the softer tone, as the commercial pipeline fills up with freshly harvested crops and end users have little reason to bid up the market.
On the other side, weakness in the Canadian dollar provided some support as the currency moved back below 81 US cents.
About 3,000 canola contracts had traded as of 8:56 CDT.
Milling wheat, durum, and barley futures were all untraded.
