By Dave Sims, Commodity News Service Canada
WINNIPEG, December 31 – ICE Canada canola contracts were lower Thursday morning, following losses in the CBOT soy complex.
Profit-taking was also a feature of this morning’s activity, an analyst said.
Farmers in Argentina are expected to start exporting soy supplies in the near future, now that the export tax has been reduced, which was bearish.
Thin volumes exaggerated the losses as many investors stayed on the sidelines due to New Year’s Eve.
However, soybean fields in the northern region of South America could do with more moisture and cooler conditions while other areas in the south are too wet.
Commercial selling limited the losses, according to a report.
About 1,200 canola contracts had traded as of 8:46 CST.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 8:46 CST:
