By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Sept. 12 (CNS Canada) – ICE Canada canola contracts were slightly lower Monday morning, although activity was thin and choppy as participants kept to the sidelines ahead of the US Department of Agriculture monthly supply/demand reports.
The USDA is set to release its numbers at 11:00 CDT, and the reaction in the Chicago Board of Trade soy complex will likely swing the canola market as well.
In the meantime, seasonal harvest pressure remained a bearish influence in the background.
However, there are still enough areas of concern across the Prairies to provide some support. Weakness in the Canadian dollar helped limit the losses as well.
About 1,700 canola contracts had traded as of 8:50 CDT.
Milling wheat, durum, and barley futures were all untraded.
