Glacier FarmMedia MarketsFarm – The ICE Futures canola market slid further back on Friday while comparable oils provided little direction.
European rapeseed and Malaysian palm oil were higher. However, Chicago soyoil was lower and crude oil was down slightly due to demand concerns.
The Canadian dollar was down less than one-tenth of a United States cent compared to Thursday’s close.
One analyst noticed fund selling across multiple grains and oilseeds. The analyst also warned that if November canola dropped below the support level of C$630 per tonne, it may start testing a low of C$600.
About 26,400 contracts have traded at 10:20 CDT. Prices in Canadian dollars per metric tonne:
Price Change
Jul 622.60 dn 4.00
Nov 637.20 dn 2.70
Jan 643.80 dn 2.40
Mar 647.40 dn 2.80
