By Dave Sims, Commodity News Service Canada
WINNIPEG, July 4 (CNS) – Canola contracts on the ICE Futures Canada platform were lower at midday Wednesday, in follow-through selling.
Thin volumes exaggerated the gains as markets in the United States were closed today for Independence Day.
Recent strength in the Canadian dollar capped the upside.
Canola is looking expensive relative to other oilseeds, which cast a bearish shadow over the market.
However, there are ideas China will look to buy more canola in the future as tariffs on U.S. soybeans are scheduled to go into effect on Friday.
About 4,100 canola contracts had traded as of 10:30 CDT.
Prices in Canadian dollars per metric ton at 10:30 CDT:
