By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures stepped back Wednesday morning, following the Chicago soy complex to the downside.
There were also losses in Malaysian palm oil, while MATIF rapeseed was mostly higher. Upticks in crude oil lent support to the vegetable oils.
A record canola harvest and virtually no export sales to China continued to weigh on values.
The March canola contract remained behind its major moving averages, which added more pressure on the oilseed.
Read Also
ICE Canola Midday: Losses getting bigger
By Glen Hallick Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange continued lower at midday Wednesday, being…
Canola crush margins pulled back a few dollars with the March position at about C$193.50 per tonne above the futures.
The Canadian dollar was virtually unchanged on Wednesday morning, with the loonie at 73.02 U.S. cents.
The markets will be closed tomorrow for New Year’s with trading set to resume on Friday at 8:30 a.m. CST.
Approximately 3,100 contracts had traded by 8:31 CST and prices in Canadian dollars per metric tonne were:
Price Change
Canola Jan 592.90 dn 1.70
Mar 606.20 dn 2.60
May 616.40 dn 3.00
Jul 624.50 dn 2.70
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
Stay informed with our daily market videos. Each video quickly covers key futures moves, price trends, and market signals that matter to Canadian farmers. Get clear, timely insights in just a few minutes. Bookmark https://www.producer.com/markets-futures-prices/videos.
