By Marlo Glass, MarketsFarm
WINNIPEG, Dec. 7 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were weaker on Monday morning, pulled down by weakness in comparable vegetable oils.
Chicago soybean contracts were lower in overnight trade, due to improving growing conditions in key soybean-growing regions in South America. Nearby soyoil contracts were down by about half of a cent in early morning trade.
Prolonged 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 7,000 canola contracts had traded as of 8:45 CST.
Prices in Canadian dollars per metric ton at 8:45 CST:
Price Change
Canola Jan 590.60 dn 2.60
Mar 584.60 dn 3.40
May 579.90 dn 3.60
Jul 572.90 dn 3.60
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