By Dave Sims, Commodity News Service Canada
WINNIPEG, September 18 – Canola contracts on the ICE Futures Canada platform were weaker Monday morning, tracking losses in vegetable oil.
Farmers are aggressively selling canola right now and visible canola supplies have risen above 1 million tonnes for the first time since the spring. That had a bearish effect on markets.
The Canadian dollar still sits around the 82 US cent mark, which made canola less attractive on the international market.
However, cold and wet weather across Western Canada has disrupted the harvest in some places, which was supportive.
Gains in US soybeans limited the losses.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:55 CDT:
