By Dave Sims, Commodity News Service Canada
WINNIPEG, November 5 – ICE Canada canola contracts corrected lower Thursday morning on ideas yesterday’s gains were overdone. Values also felt pressure from losses in the US soy complex.
Malaysian palm oil and European rapeseed futures were both lower which contributed to the declines.
There are ideas the next survey of Canadian canola will show a larger crop than previously reported.
Despite multiple rains there are still some areas of Brazil that reportedly need more moisture.
About 4,700 canola contracts had traded as of 8:50 CST.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:50 CST:
