WINNIPEG – The ICE Futures canola market was slightly negative on Wednesday morning despite a decline in the Canadian dollar.
Sunny skies and temperatures in the high-20 degrees Celsius were forecast for Alberta and parts of Saskatchewan later today, while southern Manitoba will stay in the low-20s. However, rain and thunderstorms are expected later in the week.
Crude oil was mixed to start the day as demand concerns and shrinking stockpiles in the United States attempted to offset each other. Chicago soyoil was higher, as well as European rapeseed, but Malaysian palm oil was lower. The Canadian dollar dropped by one-quarter of a U.S. cent.
About 6,400 canola contracts were traded as of 8:40 a.m. CDT.
Prices in Canadian dollar per metric ton as of 8:40:
Nov. 850.20 dn 0.20
Jan. 858.00 dn 0.40
Mar. 859.10 dn 3.80
May 862.30 dn 1.90
