By Glen Hallick, MarketsFarm
WINNIPEG, Dec. 18 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were lower Wednesday morning, as prices retreated for Malaysian palm oil and on the Chicago soy complex.
Also weighing on values was the Canadian dollar as it moved slightly higher this morning to 76.18 U.S. cents after closing Tuesday at 75.99.
A large amount of canola in the commercial pipeline, favourable crop conditions in South America, and the possibility of profit-taking today also put pressure on values.
About 9,100 canola contracts had traded as of 8:40 CST.
Prices in Canadian dollars per metric ton at 8:40 CST:
Price Change
Canola Jan 463.20 dn 3.20
Mar 472.50 dn 2.60
May 481.50 dn 2.70
Jul 487.60 dn 2.70
