By Dave Sims, Commodity News Service Canada
WINNIPEG, November 23 (CNS) – Canola contracts on the ICE Futures Canada platform were lower at 10:35 CST on Thursday, following losses in Malaysian palm oil futures.
It was a quiet day for the markets as many traders were off for the U.S. Thanksgiving holiday.
Investors were engaging in mostly sideways technical trade as no one was anxious to push the market too far one way or the other.
Recent rain in northern Brazil has improved growing conditions for soybeans, which was bearish.
However, global demand for oilseeds remains solid.
Dry weather in Argentina is becoming a problem for the soybean crop down there, which was bullish for prices.
About 2,600 canola contracts had traded as of 10:35 CST.
Prices in Canadian dollars per metric ton at 10:35 CST:
