By Dave Sims, Commodity News Service Canada
Winnipeg, November 23 (CNS Canada) – The ICE Futures Canada canola market ended lower on a quiet day of holiday trade.
U.S. markets were closed for Thanksgiving and subsequently canola traders were hesitant to push the market too far one way or the other. Markets will resume trading tomorrow in limited hours.
Canola futures were undermined by some technical selling although thin volumes may have exaggerated the declines.
Losses in vegetable oil were bearish for futures.
However, dry conditions in Argentina are creating concerns for soybean growers down there.
Farmer selling is somewhat sluggish, according to a Winnipeg-based trader.
Around 6,143 canola contracts were traded on Thursday, which compares with Wednesday when around 10,017 contracts changed hands. Spreading accounted for 2,198 of the contracts traded.
Settlement prices are in Canadian dollars per metric tonne.
