By Glen Hallick, MarketsFarm
WINNIPEG, Oct. 4 (MarketsFarm) – Intercontinental Exchange canola futures were mostly lower in choppy trading on Wednesday morning, with losses in most comparable oils.
Chicago soybeans and soyoil moved to the downside, while soymeal was higher. European rapeseed gave up some ground, but Malaysian palm oil made small gains. Declines in global crude oil prices put pressure on the vegetable oils.
Light rain continued across most of the Prairies with temperatures forecast to be in the low to mid-teens Celsius.
Manitoba reported its provincewide harvest was 85 per cent complete, with its canola at 86 per cent finished.
The Canadian dollar was slightly lower on Wednesday morning with the loonie at 72.84 U.S. cents compared to Tuesday’s close of 72.93.
About 8,250 contracts had traded as of 8:37 CDT.
Prices in Canadian dollars per metric tonne at 8:37 CDT:
Price Change Canola Nov 716.20 dn 1.20 Jan 724.10 dn 1.30 Mar 731.50 dn 1.20 May 737.10 up 0.70
