Food Industry
Industry: Email Alert RSS FeedICE Canola Futures Soften On Light Commission House Offers.
Resource News International, April, 2008
Byline: Dwayne Klassen, Resource News International
WINNIPEG, MB, Apr 04, 2008 (Resource News International via COMTEX) -- Canola contracts on the ICE Futures Canada platform were trading at slightly weaker levels at 10:35 CDT with activity described as consolidative in nature, market watchers said.
Much of the weakness in canola was a reflection of light commission house liquidation, some of which was believed to be profit-taking, traders said. Contributing to the bearish price sentiment in canola was the absence of any fresh export demand with light domestic processor offerings helping to push values down.
"There is really a lack of buying interest in canola, and that is giving the market a heavy feel," a broker said. "The bulk of the...
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