By Glen Hallick, MarketsFarm
WINNIPEG, Aug. 17 (MarketsFarm) – Canola futures on the Intercontinental Exchange (ICE) were mostly lower at midday Wednesday in choppy trading. There were some gains in the more deferred positions.
Weakness from Chicago soyoil, European rapeseed and the off session of Malaysian palm oil weighed on canola values. Small increases in global crude oil prices helped to temper further declines in the oilseeds.
Favourable growing conditions across most of the Prairies continued to put pressure on values, although there are heat warnings in southern Alberta today.
The Canadian dollar was weaker at 77.36 U.S. cents, compared to Tuesday’s close of 77.72.
Approximately 15,900 canola contracts were traded as of 10:34 CDT.
Prices in Canadian dollars per metric tonne at 10:34 CDT:
Price Change
Canola Nov 811.90 dn 1.50
Jan 820.80 dn 1.50
Mar 826.20 dn 1.10
May 827.70 dn 1.80
