By Dave Sims, Commodity News Service Canada
WINNIPEG, November 16 – Canola contracts on the ICE Futures Canada platform were lower on Thursday, tracking weakness in the U.S. soy complex and undergoing a slight downward correction in the wake of yesterday’s rise.
Rain in northern Brazil has helped improve growing conditions for that country’s soybean fields, which was bearish.
Yesterday’s rally appears to have run out of steam.
However, gains in Malaysian palm oil helped limit the losses.
The technical bias is pointed higher.
Steady demand for oilseeds around the globe was supportive.
Prices in Canadian dollars per metric ton at 8:52 CST:
