By Dave Sims, Commodity News Service Canada
WINNIPEG, January 13 – Canola contracts on the ICE Futures Canada platform were lower Friday morning, as traders booked profits in the wake of Thursday’s gains.
Losses in the US soy complex and European rapeseed futures contributed to the bearish tone along with slight strength in the Canadian dollar.
The crop in South America, despite a few weather concerns, looks to be massive.
On the other side, advances in Malaysian palm oil helped to prop up canola prices.
Thursday’s report from the USDA was largely seen as supportive for oilseeds, an analyst said.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:53 CST:
