By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Jan. 26 (MarketsFarm) – The ICE Futures canola market was posting small losses Wednesday morning, as speculative long liquidation continued to weigh on values.
Early strength in the Canadian dollar and a lack of significant end user demand, as buying interest has been rationed at current levels, contributed to declines.
However, the losses came despite a firmer tone in the Chicago soy complex. Malaysian palm oil was also higher in overnight activity, while European rapeseed was mixed.
About 3,300 canola contracts had traded as of 8:44 CST.
Prices in Canadian dollars per metric ton at 8:44 CST:
Price Change
Canola Mar 988.20 dn 7.00
May 983.20 dn 4.40
Jul 964.10 dn 4.30
Nov 830.00 dn 4.00
