By Dave Sims, Commodity News Service Canada
WINNIPEG, February 3 – Canola contracts on the ICE Futures Canada platform were slightly weaker Friday morning, tracking losses in the US soy complex.
Losses in Malaysian palm oil added to the downside.
The crop in South America is looking massive.
Chart resistance was a feature, according to an analyst.
Today’s Statistics Canada stocks report was deemed neutral for canola.
However, global demand for oilseeds remains reasonably strong.
Traders may be positioning themselves ahead of the weekend.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:55 CST:
