By Glen Hallick, MarketsFarm
WINNIPEG, Sept. 15 (MarketsFarm) – Canola futures on the Intercontinental Exchange (ICE) were lower at midday Thursday, being pulled down by comparable oils.
There were losses in Chicago soybeans and soyoil, as well as in European rapeseed and Malaysian palm oil. Meanwhile, gains in Chicago soymeal attempted to temper further decreases.
Sharp declines in global crude oil prices put pressure on the vegetable oil complex.
The advancing Prairie harvest continued to have a bearish effect on the canola market. This afternoon Saskatchewan releases its crop report with expectations of excellent progress in the fields having been made.
The Canadian dollar was lower as the loonie slipped to 75.71 U.S. cents, compared to Wednesday’s close of 75.95.
Approximately 20,750 canola contracts were traded as of 10:23 CDT.
Prices in Canadian dollars per metric tonne at 10:23 CDT:
Price Change
Canola Nov 786.40 dn 11.30
Jan 793.50 dn 12.20
Mar 799.70 dn 12.70
May 800.70 dn 12.70
