By Glen Hallick, MarketsFarm
WINNIPEG, Dec. 31 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were lower at midday Friday due to the lower volumes of trading, according to a trader. He also noted there is some profit-taking going on.
Lower Malaysian palm oil and North American crude oil also weighed on values.
All of those combined to fend off the gains in the Chicago soy complex and the front months of European rapeseed.
The Canadian dollar was stronger, putting pressure on canola. The loonie climbed to 79.01 U.S. cents, compared to Thursday’s close of 78.27.
Approximately 4,150 canola contracts were traded as of 10:45 CST.
Prices in Canadian dollars per metric tonne at 10:45 CST:
Price Change
Canola Mar 1,013.00 dn 5.90
May 982.90 dn 6.00
Jul 934.40 dn 3.10
Nov 770.00 dn 1.30
