By Dave Sims, Commodity News Service Canada
WINNIPEG, June 1 (CNS) – Canola contracts on the ICE Futures Canada platform were mixed Friday morning. Technical selling weighed down the front-month July contract while gains in soybeans and soyoil were supporting the more deferred values.
Some traders were rolling out of the nearby contract while others were squaring positions before the weekend.
Recent rainfall has removed some of the weather premium in the market.
However, both southern Alberta and southern Saskatchewan are sorely lacking moisture and need additional rains to bump up soil moisture levels.
Weakness in the Canadian dollar helped support the market. The imposition of trade tariffs on Canadian exports of steel and aluminium has sparked ideas of future pressure on the loonie.
Prices in Canadian dollars per metric ton at 8:50 CDT:
