By Jade Markus, Commodity News Service Canada
Winnipeg, April 10 (CNS Canada) – ICE Canada canola contracts were lower in early activity on Monday.
The market was feeling the spill-over bearish effects of losses in the Chicago Board of Trade soy oil and Malaysian palm oil markets.
The expectation for large soybean supplies from South America further pressured prices.
A stronger Canadian dollar was also bearish for canola values, as it makes the commodity less affordable for international buyers, and has the potential to cut into export demand.
Ideas that North America’s seeded canola area will be large this year added to the downside.
About 4,253 canola contracts had traded as of 10:10 EDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 10:10 EDT:
