By Glen Hallick, MarketsFarm
WINNIPEG, Nov. 16 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were stepping back on Wednesday morning, due to pressure from comparable oils.
The turnaround comes after the dust settled over the missile strikes in Poland that killed two people Tuesday afternoon. That caused a flurry of activity towards the end of yesterday’s session with prices spiking.
The Chicago soy complex was weaker, and there were losses in European rapeseed as well as Malaysian palm oil. Global crude oil prices were also to the downside, weighing on vegetable oils.
The Canadian dollar was virtually unchanged on Wednesday morning, with the loonie at 75.26 U.S. cents, compared to Tuesday’s close of 75.24.
About 6,900 contracts had traded as of 8:38 CST.
Prices in Canadian dollars per metric tonne at 8:38 CST:
Price Change Canola Jan 890.90 dn 3.70 Mar 875.50 dn 9.10 May 874.90 dn 10.20 Jul 876.60 dn 9.80
