By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Feb. 14 (CNS Canada) – ICE Futures Canada canola contracts were posting small losses at midday Wednesday, as the market continued to see some consolidation after recent gains.
Softness in Chicago Board of Trade soyoil futures and a firmer tone in the Canadian dollar contributed to the declines in canola, according to participants.
Large old crop supplies and a lack of significant end user demand were also bearish.
However, ongoing uncertainty over South American soybean production remained somewhat supportive, with CBOT soybeans posting small gains at midday.
About 9,500 canola contracts had traded as of 10:48 CST.
