By Dave Sims, Commodity News Service Canada
WINNIPEG, January 31 (CNS) – Canola contracts on the ICE Futures Canada platform were lower Wednesday morning, tracking declines in the U.S. soy complex.
The Canadian dollar was higher, relative to its U.S. counterpart, which made canola less attractive on the international market.
Acreage in the spring is expected to be very large, which weighed on the market.
However, slow farmer selling and reasonable demand helped prop up canola prices somewhat.
Dry weather in Argentina continues to eat into production estimates for the country’s soybean crop, which was supportive.
Prices in Canadian dollars per metric ton at 8:55 CST:
