By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Aug. 29 (CNS Canada) – Canola contracts on the ICE Futures Canada platform were posting small losses at midday Monday, in choppy activity.
The advancing harvest, losses in Chicago Board of Trade soyoil futures, and concerns over the looming implementation of stricter Chinese dockage allowances all put pressure on the market, according to participants.
Bearish technical signals contributed to the declines, as the nearby bias has shifted to the downside.
However, early harvest results are coming in mixed across the Canadian Prairies, which was keeping some caution in the futures, according to a broker. He added that cooler temperatures, coupled with late maturation in some areas, also kept some weather premiums in the futures.
About 4,200 canola contracts had traded as of 10:57 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
