By Dave Sims, Commodity News Service Canada
WINNIPEG, April 10 – Canola contracts on the ICE Futures Canada platform were mostly lower at 10:35 CDT on Monday, weighed down by losses in vegetable oil.
The Canadian dollar was higher relative to its US counterpart, which made canola less attractive to international buyers.
“Not a lot of life,” said a trader in Winnipeg. “Canola isn’t attracting a lot of buying.”
The massive soybean crop in South America weighed on values.
The bias is pointed to the downside.
However, ideas of tightening canola supplies across Western Canada helped prop up values.
Key sections of the Canadian Prairies are facing a wet and soggy spring, which was supportive.
About 8,500 canola contracts had traded as of 10:35 CDT.
Milling wheat, barley and durum were all untraded.
Prices in Canadian dollars per metric ton at 10:35 CDT:
