Glacier FarmMedia —The ICE Futures canola market was narrowly mixed at midday Friday, consolidating near unchanged to end the week.
Losses in Chicago soyoil and soybeans accounted for some spillover selling pressure, with European rapeseed also down on the day. Malaysian palm oil was slightly higher, while the Canadian dollar was steady.
Recent rains in parts of Western Canada also weighed on values, although many areas remain in need of moisture.
The nearby November canola contract was holding above its 100-day moving average, providing support from a technical standpoint.
An estimated 16,000 canola contracts traded as of 10:28 CDT.
Prices in Canadian dollars per metric tonne at 10:28 CDT:
Canola Nov 677.10 dn 0.20
Jan 688.70 dn 0.40
Mar 696.60 dn 1.10
May 705.10 up 0.20
