By Dave Sims, Commodity News Service Canada
WINNIPEG, September 28 (CNS) – Canola contracts on the ICE Futures Canada platform were weaker at 10:35 CDT on Thursday, dragged down by losses in the vegetable oil market.
Seasonal harvest pressure was a factor along with declines in US soybeans.
Rain is expected to fall of dry soybean fields in South America, which was bearish for values.
Steady farmer selling added to the downside.
On the other side, weakness in the Canadian dollar made canola more attractive on the international market.
The technical bias is pointed lower.
About 6,000 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:
