By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were stepping back on Tuesday morning, following yesterday’s strong gains.
Losses in Chicago soyoil and MATIF rapeseed pressured canola while support came from gains in Chicago soybeans and soymeal, as well as Malaysian palm oil.
Ample canola supplies, lacklustre exports and the absence of China from most buying continued to have a negative impact on the market.
Reduced trading volumes ahead of Christmas added a greater probability of wider swings.
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Glacier FarmMedia -– Canola futures on the Intercontinental Exchange entered the Christmas holidays in the red, pulled down by weaker…
The Canadian dollar was higher on Tuesday morning, with the loonie at 72.91 U.S. cents, compared to Monday’s close of 72.74.
Approximately 13,850 contracts had traded by 8:57 CST and prices in Canadian dollars per metric tonne were:
Price Change
Canola Jan 595.40 dn 6.20
Mar 606.20 dn 6.30
May 617.60 dn 6.10
Jul 626.40 dn 6.20
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