By Dave Sims, Commodity News Service Canada
WINNIPEG, May 16 (CNS) – Canola contracts on the ICE Futures Canada platform were lower Wednesday morning, pressed down by strength in the Canadian dollar.
Losses in the U.S. soy complex and Malaysian palm oil futures weighed on the market.
Showers are expected to fall over parts of the Prairies in the next few days, which should help soil moisture levels.
However, farmer selling is slow, which buoyed values.
The technical bias appears to be pointed higher.
Prices in Canadian dollars per metric ton at 8:50 CDT:
