By Dave Sims, Commodity News Service Canada
WINNIPEG, September 17 – Canola contracts on the ICE Futures Canada platform were mixed on volatile trading Wednesday morning, with some near-term values weighed down by a stronger Canadian dollar and lower European rapeseed futures.
Canola is locked in a bear pattern of repeated lower highs and lower lows, said an analyst. He added the path of least resistance was to the downside.
Forecasts calling for warmer conditions across the Canadian Prairies over the next few days were bearish.
The soy complex was higher which limited the losses.
About 2,300 canola contracts had traded as of 8:40 CDT.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:40 CDT:
