By Glen Hallick, MarketsFarm
WINNIPEG, Dec. 19 (MarketsFarm) – Intercontinental Exchange canola futures fell back on Tuesday morning, giving up most of yesterday’s increases due to a lack of support from comparable oils.
Losses in the Chicago soy complex and European rapeseed weighed on canola values, but those declines were tempered by gains in Malaysian palm oil. Small increases in global crude oil prices offered a little bit of spillover support to the vegetable oils.
Canola crush margins increased on Monday, further underpinning the oilseed’s values.
The last day trading for January canola options is Dec. 22, with first notice day for January futures set for Dec. 29.
The Canadian dollar was higher on Tuesday morning with the loonie at 74.85 U.S. cents, compared to Monday’s close of 74.70.
Approximately 9,600 contracts had traded by 8:39 CST and prices in Canadian dollars per metric tonne were at:
Price Change Canola Jan 647.00 dn 4.50 Mar 659.40 dn 5.50 May 666.00 dn 6.20 Jul 674.50 dn 6.70
