By Glen Hallick, MarketsFarm
WINNIPEG, Nov. 24 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were lower on Tuesday morning, stepping away from yesterday’s contract highs.
Weakness in the Chicago soy complex and European rapeseed contributed to the declines in canola, but gains in Malaysian palm oil helped to stem further losses.
Continuing dry conditions in parts of Brazil and Argentina remain supportive of North American oilseed prices.
The Canadian dollar was firm at 76.46 U.S. cents, compared to Monday’s close of 76.44.
About 9,500 canola contracts had traded as of 8:45 CST.
Prices in Canadian dollars per metric tonne at 8:45 CST:
Canola Jan 580.50 dn 3.60
Mar 575.20 dn 4.80
May 571.80 dn 5.00
Jul 565.40 dn 5.30