By Dave Sims, Commodity News Service Canada
WINNIPEG, August 19 – Canola contracts on the ICE Futures Canada platform were lower Tuesday morning following the soy complex.
Activity is expected to be choppy between now and the release of Statistics Canada’s production estimates, which are due out on Thursday.
European rapeseed futures and Malaysian palm oil were both lower which was bearish for values.
Market sentiment is leaning lower but futures are still holding some areas of support around the C$435 per tonne to C$437 per tonne on the November contract, said an analyst.
Concerns over dryness in the Prairies and slow farmer selling were supportive, according to a report.
About 750 canola contracts had traded as of 8:35 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:35 CDT:
