By Glen Hallick, MarketsFarm
WINNIPEG, Feb. 14 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were slightly lower on Tuesday morning, lacking support from comparable oils.
The Chicago soy complex was falling back and there were small losses in European rapeseed, while Malaysian palm made modest gains. Global crude oil prices were lower, which put pressure on vegetable oils.
Wide crush margins continued to underpin canola values.
The Prairies are expected to have normal to below temperatures for the balance of February, with daytime temperatures as low as -15 Celsius.
The Canadian dollar was relatively steady on Tuesday morning, with the loonie at 74.85 U.S. cents compared to Monday’s close of 74.95.
About 4,650 contracts had traded as of 8:36 CST.
Prices in Canadian dollars per metric tonne at 8:36 CST:
Price Change Canola Mar 828.90 dn 0.30 May 819.50 dn 1.30 Jul 816.50 dn 0.90 Nov 793.60 dn 1.40
