By Glen Hallick, MarketsFarm
WINNIPEG, Feb. 10 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were lower on Wednesday morning, due to sharp declines in the Chicago soy complex.
European rapeseed was lower as well, but there were gains in Malaysian palm oil.
The cold weather across the Prairies provided a measure of support as it limits producer deliveries plus rail movements of grain.
Tightening canola ending stocks were also a supportive factor.
The Canadian dollar was higher at 78.82 U.S cents compared to Tuesday’s close of 78.62.
About 4,400 canola contracts had traded as of 8:38 CST.
Prices in Canadian dollars per metric tonne at 8:38 CST:
Price Change
Canola Mar 698.70 dn 7.60
May 685.90 dn 6.00
Jul 658.30 dn 5.00
Nov 564.60 dn 2.70
