By Dave Sims, Commodity News Service Canada
WINNIPEG, January 12 – Canola contracts on the ICE Futures Canada platform were lower Thursday morning, tracking losses in Chicago Board of Trade soyoil and strength in the Canadian dollar.
The loonie was higher relative to its US counterpart, which made canola less attractive to out-of-country buyers.
Slight losses in CBOT soybeans contributed to the declines.
Traders are likely wary right now as they wait for the release of the USDA report at 11 am CST, an analyst noted.
On the other side, canola is still considered a bargain relative to other oilseeds.
Weather concerns in South America were supportive for canola.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:58 CST:
