By Jade Markus, Commodity News Service Canada
WINNIPEG, September 27 – ICE Canada canola contracts were weaker in early activity on Tuesday.
The market was pressured by spill over weakness from the Malaysian palm oil and Chicago Board of Trade soy oil markets.
Harvest-pressure was also a feature, market watchers say.
Weaker export demand further pressured prices. This year’s exports to date are at about 862,000 tonnes, compared with slightly more than 1.1 million tonnes at the same time last year, according to data from the Canadian Grain Commission.
However, losses in the Canadian dollar, which is bullish for canola, limited losses.
About 2,038 canola contracts had traded as of 8:35 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
