WINNIPEG – The ICE Futures canola market was continuing its recent decline at midday Wednesday with mixed sentiment in comparable oils.
While Chicago soyoil was higher, both European rapeseed and Malaysian palm oil were down. Crude oil was taking a step back despite large draws from United States stockpiles.
One trader said that weakness from European rapeseed and Malaysian palm oil overnight was spilling over into canola prices.
The Canadian dollar was down nearly one-tenth of a United States cent compared to Tuesday’s close.
Nearly 21,794 canola contracts were traded as of 10:30 CDT.
Price Change
May 771.50 dn 5.80
Jul 752.10 dn 7.60
Nov 721.30 dn 8.80
Jan 725.30 dn 8.00
