By Dave Sims, Commodity News Service Canada
WINNIPEG, April 6 – Canola contracts on the ICE Futures Canada platform were mostly lower Thursday morning, following losses in US soy and vegetable oil markets.
Malaysian palm oil futures were also lower, which pressured prices.
North American oilseed acreage is expected to increase over last year while South America soybean exports are booming, both of which were bearish.
The technical bias is pointed lower.
However, the tightening canola stocks situation was supportive for values.
Strong global demand for oilseeds helped limit the losses.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:57 CDT:
