ICE canola futures down in early Wednesday trading

By Glen Hallick, Commodity News Service Canada
WINNIPEG, Feb. 13 (CNS Canada) – Ice Futures canola contracts were posting small losses Wednesday morning with bearish technical signals weighing on prices.
Soybeans and soyoil on the Chicago Board of Trade were also posting losses Wednesday morning, putting pressure on canola.
Also palm oil and European rapeseed posted overnight losses.
Continuing political tensions between Canada and China have stopped China from buying Canadian canola, according to market participants.
The Canadian dollar was trading lower Wednesday morning, providing some support.
Cold weather across much of Western Canada has also limited farmer selling.
About 6,600 canola contracts had traded as of 8:51 CST
Prices in Canadian dollars per metric ton at 8:51 CST
Price Change
Canola Mar 479.80 dn 1.40
May 488.30 dn 1.30
Jul 496.10 dn 1.40
Nov 496.10 dn 1.50

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