Howard Leaman Apr 25/18
Canola traded on both sides of unchanged on Wednesday, ending lower.
The weakness was attributed to evening up ahead of Friday's Stats Can
planting intentions report, and spillover selling from soy oil. The acreage
report is expected to show record large Canadian canola acreage for 2018.
In addition, there is also concern that recent strength in canola relative
to other vegetable oils is pricing canola out of the world market.
The selling in canola was curbed by spillover buying from palm oil,
European rapeseed, soybeans and soy meal, combined with weakness in the
Canadian dollar. The dollar lost about a fifth of a cent against the U.S.
dollar on Wednesday. Further, spring road bans in western Canada are
restricting farmer selling.
Jly Canola 539.50 530.10
Nov Canola 521.90 515.70
For more free DTN information sent right to your email each morning - click here
to sign up for DTN Snapshot.