By Glen Hallick, Commodity News Service Canada
WINNIPEG, Feb. 14 (CNS Canada) – Ice Futures canola contracts continued to post small losses Thursday morning with bearish technical signals weighing on prices.
Soybeans and soyoil on the Chicago Board of Trade were also on the downside Thursday morning, putting pressure on canola.
Malaysian palm oil and European rapeseed were firmer in overnight trading.
Caution is the central theme on the markets as high-level trade talks between the United States and China continue in Beijing. Traders do not want to push prices too far either way because of the uncertainty surrounding the negotiations.
The Canadian dollar was trading lower Thursday morning, providing some support.
Farmers continue to be reluctant sellers of canola.
About 5,400 canola contracts had traded as of 8:49 CST.
Prices in Canadian dollars per metric ton at 8:49 CST:
Price Change
Canola Mar 479.70 dn 1.10
May 488.30 dn 1.10
Jul 495.90 dn 1.30
Nov 496.60 dn 1.50
