By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Aug. 2 (CNS Canada) – ICE Futures canola contracts were weaker Thursday morning, seeing some follow-through selling after Wednesday’s turn lower.
Losses in the Chicago Board of Trade soy complex contributed to the softer tone in canola, amid ideas that the trade dispute between the United States and China was worsening.
Looming harvest pressure also weighed on canola, with expectations for large supplies this fall.
However, persistent weather concerns in parts of the Prairies provided some underlying support.
The Canadian dollar was slightly softer in early activity.
About 1,900 canola contracts had traded as of 8:52 CDT.
