ICE Canola Mixed in Light Trade

Downward pressure on values was coming from overnight losses in the e-CBOT soy complex, analysts said, which was making crush margins less enticing for crushers, although margins are still relatively favorable overall.

The market is still digesting yesterday’s news that China is trying to curve inflation, which would result in less demand for commodities, experts said.

The Canadian dollar was about a tenth of a cent stronger this morning, which provided more bearish pressure to values, market watchers said.

Strength in the market was coming from tightening global supply of vegetable oil. Malaysian palm oil was higher in overnight trade, also giving support to canola, brokers said.

Market watchers said the overall bias for canola was still higher, which was limiting selling activity from producers.

At 08:40 CST, there had only been about 150 canola contracts traded.

Western barley futures were unchanged and untraded early Friday.

Prices in Canadian dollars per metric ton at 08:40 CST: