By Glen Hallick, MarketsFarm
WINNIPEG, Feb. 2 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola lower Tuesday morning following losses in the Chicago soy complex.
Canola outpaced the soy complex in going higher on Monday, leaving it open to a rebalancing today.
There were also losses in European rapeseed and Malaysian palm oil.
Concerns regarding tight canola ending stocks have continued to underpin values.
The Canadian dollar was relatively steady this morning, with the loonie at 77.93 compared to Monday’s close of 77.98.
About 3,800 canola contracts had traded as of 8:42 CST.
Prices in Canadian dollars per metric tonne at 8:42 CST:
Price Change
Canola Mar 700.00 dn 15.50
May 669.00 dn 9.50
Jul 639.80 dn 10.10
Nov 550.00 dn 7.40
