By Phil Franz-Warkentin, Commodity News Service Canada
WINNIPEG, March 23 (CNS Canada) – ICE Futures Canada canola contracts were weaker Friday morning, as losses in Chicago Board of Trade soybeans and strength in the Canadian dollar weighed on the market.
Concerns over a mounting trade dispute between China and the United States accounted for some of the weakness in soybeans that spilled into canola, according to participants.
Large old crop canola supplies and expectations for increased seeded acres this spring also weighed on values.
Chart support was holding to the downside in canola, helping temper the losses.
About 4,800 canola contracts had traded as of 9:00 CDT.
