By Dave Sims, Commodity News Service Canada
WINNIPEG, July 10 (CNS) – Canola contracts on the ICE Futures Canada platform were lower Tuesday morning, in follow-through selling.
The market was pressured by the U.S. soybean crop, which has been advancing rapidly and is expected to be massive. Canada’s canola crop is also doing fairly well, albeit with some pockets of dryness.
Losses in Malaysian palm oil futures weighed on canola.
However, gains in U.S. soybeans and soyoil limited the losses.
Weakness in the Canadian dollar was bullish for the market.
Prices in Canadian dollars per metric ton at 8:59 CDT:
