ICE canola falters on Thursday morning

By Marlo Glass, MarketsFarm
WINNIPEG, Nov. 21 (MarketsFarm) – The ICE Futures canola market was slightly lower on Thursday, retreating from gains made earlier in the week.
A weaker tone from soy oil on the Chicago Board of Trade dragged canola prices slightly lower. The December soy oil contract was down by 14/100 of a cent.
Recent weakness in the Canadian dollar was supportive of prices. The dollar was around 75 U.S. cents on Thursday morning.
Employees at CN Rail remain on strike, which could impact moving canola to export positions and put pressure on values.
About 1,700 canola contracts had traded as of 8:35 CST.
Prices in Canadian dollars per metric ton at 8:35 CST:
Price Change
Canola Jan 464.70 dn 1.30
Mar 473.60 dn 1.10
May 481.10 dn 1.00
Jul 487.10 dn 1.40

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