By Glen Hallick, MarketsFarm
WINNIPEG, July 22 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were mixed on Wednesday morning, looking for which direction to take.
There was some weakness in the Chicago soy complex. As well, lower European rapeseed and Malaysian palm oil weighed on canola values.
The Canadian was virtually unchanged this morning at 74.35 U.S. cents.
The weekly crop report from Manitoba Agriculture stated most crops are generally in average to good condition, except those in low-lying areas with wet conditions. Canola ranged from blooming to podding, depending when it was planted.
About 5,200 canola contracts had traded as of 8:37 CDT.
Prices in Canadian dollars per metric tonne at 8:37 CDT:
Price Change
Canola Nov 485.20 up 0.50
Jan 491.70 unchanged
Mar 496.40 dn 0.10
May 499.40 up 0.30
