By Glen Hallick, MarketsFarm
WINNIPEG, April 14 (MarketsFarm) – Canola futures on the Intercontinental Exchange (ICE) were mixed at midday Thursday, as the rolling out of the old crop positions continued, according to a trader. He noted there were supply worries regarding new crop canola.
Old crop canola was lower in choppy trading, but there were moderate advances in the new crop positions.
There was little direction from the Chicago soy complex, with small losses in soybeans, and slight increases in soyoil and soymeal. Meanwhile, strong gains in European rapeseed and the front months of Malaysian palm oil were tempering further declines.
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This was despite pressure on edible oils from losses in global crude oil prices, although they were recovering from larger pull backs earlier in the session.
The Canadian dollar was virtually unchanged with the loonie at 79.30 U.S. cents.
The markets in Canada the United States will be closed tomorrow for the Good Friday holiday.
Approximately 11,950 canola contracts were traded as of 10:26 CDT.
Prices in Canadian dollars per metric tonne at 10:26 CDT:
Price Change
Canola May 1,152.80 dn 2.20
Jul 1,136.20 dn 0.50
Nov 1,034.70 up 6.90
Jan 1,035.70 up 7.40
