By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, June 4 (CNS Canada) – ICE Futures Canada canola contracts were weaker Monday morning, taking some direction from the Chicago soy complex.
Improving North American crop conditions contributed to the declines, as the better weather encourages farmer selling and investors take profits on some of their long positions.
The Canadian dollar was slightly firmer in early activity, which also weighed on canola.
However, there are still enough areas of concern across the Prairies to provide some underlying support.
About 7,300 canola contracts had traded as of 8:49 CDT.
