By Glen Hallick, MarketsFarm
WINNIPEG, Nov. 12 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were lower on Friday morning, backing away from new contract highs as the Canadian markets resumed trading following Remembrance Day.
Declines in Chicago soyoil and European rapeseed weighed on values while support came from Chicago soybeans and soymeal as well as Malaysian palm oil.
In light of strong gains in the United States dollar, the Canadian dollar was weaker with the loonie at 79.48 U.S. cents compared to Wednesday’s close of 80.31.
About 4,700 canola contracts had traded as of 8:35 CST.
Prices in Canadian dollars per metric tonne at 8:35 CST:
Price Change
Canola Jan 1,002.80 dn 1.60
Mar 972.00 dn 4.70
May 939.50 dn 5.40
Jul 899.50 dn 4.40
