ICE canola weaker on Tuesday

By Marlo Glass, MarketsFarm
WINNIPEG, Dec. 31 (MarketsFarm) – The ICE Futures canola market was lower on Tuesday morning, as traders switched their attention from the January contract to March.
A weaker tone for soybeans on the Chicago Board of Trade kept pressure on canola values. Market participants continue to monitor weather forecasts in key growing regions of Argentina and Brazil for signs of drought.
The Canadian dollar was stronger on Tuesday, putting some pressure on canola prices. The dollar was around 76.88 U.S. cents on Tuesday morning
About 1,300 canola contracts had traded as of 8:35 CST.
Prices in Canadian dollars per metric ton at 8:35 CST:
Price Change
Canola Mar 476.90 dn 2.00
May 486.00 dn 2.20
Jul 492.00 dn 2.00
Nov 496.50 dn 1.70

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