Food Industry
Industry: Email Alert RSS FeedICE Canada Canola Weakens On Rains, Outside Markets.
Resource News International, June, 2009
Byline: Phil Franz-Warkentin, Resource News International
Winnipeg, MB, Jun 22, 2009 (Resource News International via COMTEX) -- Canola futures traded on ICE Futures Canada were lower at 10:52 CDT Monday, as beneficial rainfall in parts of western Canada over the weekend and losses in the outside markets weighed on values.
At least 60% of the particularly dry areas in western Canada received some beneficial rainfall over the weekend, said a Winnipeg-based broker. He thought he precipitation was behind some of the weakness in the market, but added that "there are still a lot of question marks for canola." He said the rain may have been too late to save some crops.
Losses in the CBOT soy complex also weighed on canola, according to the...
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