By Dave Sims, Commodity News Service Canada
WINNIPEG, September 22 – ICE Canada canola contracts were lower Tuesday morning, following losses in US soyoil.
Chicago soybeans, Malaysian palm oil and European rapeseed futures were also lower which dragged on values.
The canola harvest is mostly finished in many parts of Western Canada and well underway in others.
Weather conditions this week are expected to be mostly warm and sunny which should help speed harvest along.
However, the Canadian dollar was slightly lower relative to its US counterpart which made canola more attractive to out-of-country buyers.
Farmers selling has been sluggish so far.
China is expected to step up its purchases of oilseeds soon.
About 2,900 canola contracts had traded as of 8:40 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:40 CDT:
Price Change
Canola Nov 463.40 up 3.10
Jan 468.40 up 2.80
Mar 471.50 up 2.50
Milling Wheat Oct 235.00 unch
Dec 239.00 unch
Durum Oct 330.00 unch
Dec 330.00 unch
Barley Oct 184.00 unch
Dec 184.00 unch
