By Dave Sims, Commodity News Service Canada
WINNIPEG, April 20 (CNS) – Canola contracts on the ICE Futures Canada platform were correcting lower Friday morning in the wake of yesterday’s sharp gains.
Weakness in the Chicago soy complex also weighed on values.
There are ideas the market is overbought. As well, the price of canola is rather expensive compared to other oilseeds.
However, there are signs exports are picking up on the West Coast and demand for oilseeds in general remains strong.
The potential for a rail-strike in Canada this weekend, has the chance to limit supplies.
Prices in Canadian dollars per metric ton at 8:50 CDT:
