By Dave Sims, Commodity News Service Canada
WINNIPEG, June 19 (CNS) – Canola contracts on the ICE Futures Canada platform were lower at midday Tuesday, tracking sharp losses in Chicago Board of Trade soybeans and soyoil.
The sabre rattling between the United States and China on trade issues continues to cast uncertainty into agricultural markets.
Crush margins are under severe pressure due to the plunge in soyoil, which was bearish.
“This is making canola look expensive,” noted a trader in Winnipeg.
However, weakness in the Canadian dollar limited the damage.
The most-active November contract received support at the C$500 per tonne mark.
About 19,000 canola contracts had traded as of 10:40 CDT.
Prices in Canadian dollars per metric ton at 10:40 CDT:
