By Marlo Glass, MarketsFarm
WINNIPEG, July 13 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were narrowly mixed in early morning trading.
Losses in comparable vegetable oils kept pressure on canola prices. The Chicago soy complex was lower following expectations of improved weather in key growing regions.
Weakness in outside markets, including crude oil, also contributed to the negative tone for canola.
Relative weakness in the Canadian dollar provided some support for canola values. The loonie was at 73.8 U.S. cents during early morning trade.
About 3,000 canola contracts had traded as of 8:30 CDT.
Prices in Canadian dollars per metric ton at 8:30 CDT:
                          Price      Change
Canola      Nov 479.20 dn 0.40
Jan 486.80 up 0.50
Mar 492.40 up 0.90
May 496.00 up 1.20
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