By Dave Sims, Commodity News Service Canada
WINNIPEG, Aug. 21 (CNS) – Canola contracts on the ICE Futures platform were weaker at midday Tuesday, tracking declines in Chicago Board of Trade soybeans.
The market had taken strength in recent days on speculation a trade deal between China and the United States could be coming soon, but that notion seems to have disappeared.
Cooler weather has set in on several parts of the Prairies, which was bearish.
Funds remain short in the market.
However, slow farmer selling and slight gains in CBOT soyoil were supportive.
About 5,800 canola contracts had traded as of 10:35 CDT.
Prices in Canadian dollars per metric ton at 10:35 CDT:
