By Glen Hallick, MarketsFarm
WINNIPEG, Oct. 18 (MarketsFarm) – Intercontinental Exchange canola futures were mostly lower Wednesday morning, but were attempting to recover from Tuesday’s losses.
Along with support from upticks in the Chicago soy complex, there was spillover coming from increases in European rapeseed, Malaysian palm oil and global crude oil prices.
Scattered showers were forecast today in parts of each Prairie province. Temperatures are expected to reach the mid to high teens Celsius.
Manitoba Agriculture reported the provincewide harvest was 90 per cent complete with the combining of canola at 94 per cent finished.
The Canadian dollar was a pinch lower on Wednesday morning as the loonie dips to 73.24 U.S. cents compared to Tuesday’s close of 73.28.
About 7,400 contracts had traded as of 8:34 CDT.
Prices in Canadian dollars per metric tonne at 8:34 CDT:
Price Change
Canola Nov 718.50 dn 0.70
Jan 723.80 up 0.50
Mar 729.10 dn 0.50
May 733.50 up 0.10
