By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, July 7 (MarketsFarm) – The ICE Futures canola market was mixed Wednesday morning, seeing some consolidation in early activity after posting sharp limit-down losses on Tuesday.
Daily limits for canola futures are expanded to C$45 per tonne for Wednesday.
Chicago Board of Trade soybean contracts were holding onto gains, but were well off their overnight highs while soyoil chopped around both sides of unchanged.
Timely rains were hitting parts of Western Canada, but many dry areas were missing out on the moisture.
Ongoing concerns over tight supplies remained supportive.
About 8,100 canola contracts had traded as of 8:52 CDT.
Prices in Canadian dollars per metric ton at 8:52 CDT:
Price Change
Canola Nov 774.60 up 3.20
Jan 770.40 up 2.30
Mar 754.60 dn 5.50
May 743.60 dn 5.30
