By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Oct. 22 (MarketsFarm) – The ICE Futures canola market narrowly mixed Friday morning in choppy trade, seeing some consolidation ahead of the weekend after Thursday’s profit-taking selloff.
The Chicago Board of Trade soy complex was holding firm in early activity, providing some spillover support for canola.
Ongoing concerns over tight supplies also underpinned the market, although demand is already being rationed at current price levels.
The Canadian dollar was stronger in early activity, putting some pressure on canola.
About 4,500 canola contracts had traded as of 8:51 CDT.
Prices in Canadian dollars per metric ton at 8:51 CDT:
Price Change
Canola Nov 937.70 up 0.30
Jan 928.00 up 0.60
Mar 910.30 dn 2.00
May 883.50 dn 3.40
