By Dave Sims, Commodity News Service Canada
WINNIPEG, November 3 – Canola contracts on the ICE Futures Canada platform were lower on Friday, in sympathy with the U.S. soy complex.
The Canadian dollar was over a third of a cent higher, relative to its U.S. counterpart, which made canola less attractive to out-of-country buyers.
Weakness in Malaysian palm oil contributed to the downside.
Rain in northern Brazil is expected to replenish soil moisture in dry soybean fields.
However, slow farmer selling helped limit the losses.
Steady demand for oilseeds around the globe was supportive.
Prices in Canadian dollars per metric ton at 8:52 CDT:
