By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were lower on Wednesday morning, after the market was closed yesterday for a holiday.
While the nearby November contract continued to hover above C$600 per tonne, it dipped below that level before returning above that mark.
The advancing Prairie harvest, along with declines in Chicago soybeans, soymeal and MATIF rapeseed, weighed on canola values. The Canadian oilseed’s losses were tempered by gains in Chicago soyoil and Malaysian palm oil. Meanwhile, weakness in crude oil put pressure on the vegetable oils.
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The Canadian dollar was slightly lower on Wednesday morning, with the loonie at 71.76 U.S. cents compared to Monday’s close of 71.83.
Approximately 17,450 contracts were traded by 8:39 CDT and prices in Canadian dollars per metric tonne were:
Price Change
Canola Nov 602.70 dn 2.50
Jan 615.80 dn 2.40
Mar 627.20 dn 2.20
May 636.50 dn 3.10
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
