ICE Canola weighed down by currency issues

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:

Commodity Future Prices

Canola
updated 2018-05-16 08:55
Price Change
Jul531.2-2.30
Nov516.4-4.60
Jan521-4.60
Mar524.2-4.00

Prices are in Canadian dollars per metric ton

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