By Glen Hallick, MarketsFarm
WINNIPEG, Jan. 27 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were lower on Friday morning.
Pressure came from a downturn in Chicago soy complex. Meanwhile European rapeseed was narrowly mixed and Malaysian palm oil finished with strong increases. Gains in global crude oil prices provided support to vegetable oils.
Canola crush margins remained quite wide, underpinning values.
The Canadian Grain Commission reported producer deliveries of canola for the week ended Jan. 22 were 502,900 tonnes, down slightly from the previous week. While canola exports stepped back 23 per cent on the week at 174,700 tonnes domestic usage rose 30 per cent at 298,000 tonnes.
The Canadian dollar nudged up a little on Friday morning, with the loonie at 74.98 U.S. cents compared to Thursday’s close of 74.91.
About 5,650 contracts had traded as of 8:37 CST.
Prices in Canadian dollars per metric tonne at 8:37 CST:
Price Change Canola Mar 802.90 dn 3.20 May 803.00 dn 4.10 Jul 805.50 dn 4.00 Nov 791.40 dn 3.10
