Phil Speiss of RBC Dominion Securities in Winnipeg believes canola could enter a bearish downturn, but the war in Iran and volatile oil prices are complicating matters.
There’s more to canola futures on the Intercontinental Exchange than crude oil and vegetable oils prices, said David Derwin, commodity futures advisor for Ventum Financial in Winnipeg.
Jamie Wilton, trader for RJ O’Brien in Winnipeg, said he and the canola trade is watching and waiting while Prime Minister Mark Carney visits China this week.