By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, June 8 (CNS Canada) – ICE Futures Canada canola contracts were weaker Friday morning, as bearish technical signals and losses in outside vegetable oil markets weighed on values.
Relatively favourable crop conditions across much of Western Canada contributed to the declines in canola, although there are still enough areas of concern to provide some support.
The Canadian dollar was weaker in early activity, which helped temper the declines in canola.
Uncertain trade issues are also still overhanging the agricultural markets, with G7 leaders set to meet in Quebec over the weekend.
About 6,300 canola contracts had traded as of 8:54 CDT.
