By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Oct. 3 (CNS Canada) – ICE Canada canola contracts were lower Monday morning in quiet trade, as losses in Chicago Board of Trade soyoil and seasonal harvest pressure weighed on values.
The harvest is nearing its final stages across Western Canada, with relatively favourable weather in the forecasts over the next week. The US soybean harvest is also moving along.
Concerns over export demand were also putting some pressure on values.
However, demand from domestic crushers remains solid, with margins still at very wide levels. Uncertainty over the size of the canola crop was also keeping some caution in the futures.
About 1,800 canola contracts had traded as of 8:54 CDT.
Milling wheat, durum, and barley futures were all untraded.
