By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, July 12 (MarketsFarm) – The ICE Futures canola market was narrowly mixed Friday morning in thin and choppy activity.
The market was thought to be seeing some consolidation, as traders adjusted positions ahead of the weekend.
While improving crop conditions in parts of the Prairies put pressure on values, enough areas of concern remain to keep some caution in the market.
The Canadian dollar and the Chicago Board of Trade soy complex were both firmer to start the day, cancelling each other out from a canola crush margins perspective.
About 1,300 canola contracts had traded as of 8:50 CDT.
Prices in Canadian dollars per metric ton at 8:50 CDT:
Canola Nov 447.30 up 0.10
Jan 454.40 dn 0.10
Mar 461.30 unchanged
May 467.10 unchanged