By Marlo Glass, MarketsFarm
WINNIPEG, Dec. 8 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were lower on Tuesday morning, pulled down by weakness in other vegetable oils.
Nearby Chicago soyoil contracts were down by about half of a cent in early morning trade, as forecasts of rain have improved growing conditions in South America.
Strength in the Canadian dollar was another limiting factor for canola, as the loonie remained over 78 United States cents in early morning activity.
About 11,000 canola contracts had traded as of 8:45 CST.
Prices in Canadian dollars per metric ton at 8:45 CST:
Price Change
Canola Jan 585.10 dn 6.30
Mar 579.50 dn 6.20
May 575.10 dn 5.80
Jul 567.80 dn 6.40
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