By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, Aug. 3 (CNS Canada) – ICE Futures canola contracts were mostly lower Friday morning, taking some direction from Chicago Board of Trade soybeans amid ongoing trade tensions between the United States and China.
Relatively favourable North American crop conditions and the looming harvest added to the softer tone.
However, there are still enough areas of concern in Western Canada to keep some weather premiums in the market.
Positioning ahead of the Canadian long weekend accounted for some of the activity.
The ICE canola market will be closed on Monday, August 6, for Terry Fox Day. Markets in the United States will trade their usual hours.
About 1,800 canola contracts had traded as of 9:08 CDT.
