By Glen Hallick, MarketsFarm
WINNIPEG, Dec. 15 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were steady to higher on Tuesday morning, with the January contract getting closer to its high.
In the overnight session, canola values rode the coattails of gains in Chicago soyoil. By this morning, the latter was relatively steady and providing little direction for the Canadian oilseed.
There was support from increased in Malaysian palm oil values, while European rapeseed was slightly lower.
A somewhat higher Canadian dollar weighed on canola values. The loonie was at 78.48 U.S. cents, compared to Monday’s close of 78.39.
About 6,800 canola contracts had traded as of 8:36 CST.
Prices in Canadian dollars per metric tonne at 8:36 CST:
Price Change
Canola Jan 597.40 up 1.10
Mar 589.80 up 1.30
May 582.80 up 0.20
Jul 574.90 dn 0.40
