By Glen Hallick, MarketsFarm
WINNIPEG, April 5 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were lower on Wednesday morning, following declines in other vegetable oils.
The Chicago soy complex, European rapeseed and Malaysian palm oil pulled back. Global crude oil prices were relatively steady, providing little direction to the veg oils.
Although canola crush margins remain on the strong side, they fell sharply with only the July position above C$200 per tonne.
The Canadian dollar was virtually unchanged on Wednesday morning with the loonie at 74.38 U.S. cents.
About 9,600 contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric tonne at 8:35 CDT:
Price Change Canola May 767.60 dn 9.50 Jul 748.70 dn 11.00 Nov 716.90 dn 13.20 Jan 720.90 dn 12.40
