By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Feb. 6 (MarketsFarm) – The ICE Futures canola market was posting small losses Monday morning, taking back some of Friday’s gains as speculators adjusted positions to start the week.
Losses in Chicago soybean futures accounted for some spillover selling pressure in the Canadian oilseed. However, soyoil was closer to unchanged and European rapeseed was narrowly mixed. Malaysian palm oil futures were untraded with markets there closed for a holiday.
The Canadian dollar was slightly softer in early trade, providing some underlying support.
Canadian stocks data for the end of the calendar year will be released on Tuesday.
About 4,700 canola contracts had traded as of 8:47 CST.
Prices in Canadian dollars per metric ton at 8:47 CST:
Canola Mar 829.60 dn 2.00
May 826.80 dn 2.10
Jul 825.90 dn 4.40
Nov 807.00 dn 3.90
