Food Industry
Industry: Email Alert RSS FeedICE Canola Futures Lose Ground On Long Liquidation.
Resource News International, March, 2008
Byline: Dwayne Klassen, Resource News International
WINNIPEG, MB, Mar 14, 2008 (Resource News International via COMTEX) -- Canola contracts on the ICE Futures Canada platform were trading at lower levels at 10:27 CDT. Continued long liquidation orders from commission houses and declines in CBOT soybean complex values were tied to the downward price slide seen in canola, market watchers said.
"Uncertainty in the North American equity and currency markets, given reports that more large US credit firms were in jeopardy, have sparked liquidation of positions by speculators in commodities, including canola," a broker said.
Losses overnight in Malaysian palm oil futures had helped to put some downward pressure on canola as did light, but steady...
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