By Dave Sims, Commodity News Service Canada
WINNIPEG, February 23 – Canola contracts on the ICE Futures Canada platform were lower Thursday morning, tracking losses in the US soy complex.
The Canadian dollar was stronger relative to its US counterpart, which made canola less desirable on the international market.
Crush margins in Western Canada have steadied over the past day, but were still considerably lower than a month ago.
Countries have largely turned their focus to supplies coming out of South America, which weighed on North American oilseeds in general.
However, gains in deferred contracts of Malaysian palm oil were supportive for the market.
There are ideas that supplies of canola are tightening, which was bullish.
Traders continue to roll out of the March contract and into May.
Milling wheat, barley and durum were untraded.
Prices in Canadian dollars per metric ton at 8:53 CST:
