By Glen Hallick
Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures were lower on Thursday morning, getting pressure from declines in the Chicago soy complex, particularly soyoil.
Losses in global crude oil prices weigh on vegetable oil values. That saw Malaysian palm oil to the downside, while European rapeseed was narrowly mixed.
The Canadian dollar was relatively steady on Thursday morning with the loonie at 75.04 U.S. cents, compared to Wednesday’s close of 75.03.
Canola crush margins pulled back with only the nearby January position exceeding C$200 per tonne above the futures.
The last trading day for January canola options is tomorrow, with first notice day for January futures a week later.
Approximately 9,900 contracts had traded by 8:40 CST and prices in Canadian dollars per metric tonne were:
Price Change Canola Jan 644.00 dn 4.30 Mar 658.70 dn 3.10 May 667.50 dn 3.80 Jul 672.70 dn 3.70
