ICE Canola Lower In Choppy Trade

Calls for a weaker start to the North American session for CBOT soybeans were also weighing on canola, although traders cautioned that the US markets could easily turn higher.

Technical resistance, improving crop prospects in Argentina, and some light farmer hedges were also putting some pressure on values, said market participants.

On the other side, steady exporter and domestic crusher demand provided some support, as the long term fundamentals continue to point higher, according to traders.

Improving US economic data also has the potential to pull the oilseed markets higher on Friday, said an analyst. Overnight advances in Malaysian palm oil and European rapeseed futures were also lending some spillover support to canola.

About 600 canola contracts had traded as of 8:38 CST.

Western barley futures were untraded and unchanged Friday morning.

Prices in Canadian dollars per metric ton at 8:38 CST: