By Dave Sims, Commodity News Service Canada
WINNIPEG, November 17 – Canola contracts on the ICE Futures Canada platform were weaker at 10:45 CST Monday, tracking the soy complex.
“The meal situation is starting to settle down and it’s a little bit back to normal which is typical for this time of year,” said an analyst.
He noted canola values were too weak last week to follow the market higher. But believes things are back in a more reasonable balance.
Losses in Malaysian palm oil and European rapeseed futures pressured canola.
The Canadian dollar was weaker though which limited the losses.
Farmer selling in Western Canada has been sluggish, which also lent some underlying support to the market.
Around 21,000 contracts had traded as of 10:45 CST, Monday.
Milling wheat, durum and barley were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 10:45 CST:
