By Marlo Glass, MarketsFarm
WINNIPEG, Jan. 23 (MarketsFarm) – The ICE Futures canola market was lower on Thursday, taking back most of the gains made yesterday.
A weaker tone for soyoil on the Chicago Board of Trade kept pressure on canola values this morning. Promises of China increasing soybean purchases have yet to materialize.
The Canadian dollar dipped slightly this morning, supporting further losses. The dollar was around 75.9 U.S. cents on Thursday morning.
About 2,500 canola contracts had traded as of 8:35 CST.
Prices in Canadian dollars per metric ton at 8:35 CST:
Price Change
Canola Mar 479.40 dn 2.00
May 488.40 dn 1.80
Jul 492.80 dn 1.60
Nov 496.70 dn 1.10