By Glen Hallick, MarketsFarm
WINNIPEG, Feb. 28 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures are lower on Tuesday morning, getting pressure from declines in the Chicago soy complex.
Losses in European rapeseed and Malaysian palm oil were also weighing on canola values. Meanwhile, upticks in global crude oil prices tempered further decreases in vegetable oils.
Crush margins for old crop canola fell back while those for new crop dipped but remained very strong to underpin values.
Tuesday marks the first notice day for March grain deliveries.
The Canadian dollar was virtually unchanged with the loonie at 73.66 U.S. cents compared to Monday’s close of 73.68.
About 4,850 contracts had traded as of 8:35 CST.
Prices in Canadian dollars per metric tonne at 8:35 CST:
Price Change Canola Mar 840.00 dn 1.30 May 818.60 dn 5.10 Jul 813.00 dn 5.70 Nov 787.60 dn 6.20
