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ICE Canola Dips with Soyoil

WINNIPEG, MB, February 14, 2018 (CNS), Feb 14, 2018 (Commodity News Service Canada, Inc. via COMTEX) --

Canola contracts on the ICE Futures Canada platform were lower Wednesday morning, tracking weakness in U.S. soyoil.

Farmer selling has ramped up in recent days, which was bearish for the market.

China's decision to refuse some recent shipments of U.S. soybeans weighed on values.

However, gains in U.S. soybeans and soymeal limited the losses.

The Canadian dollar was slightly weaker relative to its U.S. counterpart, which made canola more attractive to out-of-country buyers.

Prices in Canadian dollars per metric ton at 9:07 CST:

                          Price      Change
Canola            Mar     503.00    dn  0.90
                  May     507.90    dn  1.10
                  Jul     511.80    dn  1.10

Dave Sims, Commodity News Service Canada

Copyright 2018 Commodity News Service Canada, Inc.

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