ICE Canola Weaker with Profit Taking

Elevator hedge selling was a factor undermining the market as well, experts said.

Brokers said export business to China has been become old news, and the market is looking for something new to try and build support off of.

Canola supplies are a plenty at the moment, and end users are having no trouble acquiring what they need, market watchers said.

A stronger Canadian dollar was providing further downward pressure on values, analysts said.

Losses were tempered by gains in Malaysian palm oil which continued to move higher as inventories fell to five month lows on poor production and strong demand, market watchers said.

Soybean values in Chicago were higher in overnight trade, and although the USDA did not cut soybean supplies as much as expected, early calls are for values to open higher Friday, market watchers said.

At 08:35 CST, there had been about 1,200 canola contracts traded.

Western barley futures were unchanged and untraded early Friday.

Prices in Canadian dollars per metric ton at 08:35 CST: