By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Dec. 23 (MarketsFarm) – The ICE Futures canola market was mixed Friday morning, lacking any clear direction as traders adjust positions ahead of the holidays.
The canola market will be closed next week Monday and Tuesday for Christmas and Boxing Day, with many participants already moving to the sidelines.
Chicago soyoil and soybean futures were stronger in early activity, providing some spillover support for canola. However, European rapeseed and Malaysian palm oil were both lower.
The Canadian dollar was slightly firmer in early activity.
About 2,300 canola contracts had traded as of 8:35 CST.
Prices in Canadian dollars per metric ton at 8:35 CST:
Canola Jan 861.70 dn 1.60
Mar 862.70 up 1.50
May 858.20 up 1.10
Jul 849.40 dn 3.80
