By Marlo Glass, MarketsFarm
WINNIPEG, Sept. 15 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were weaker on Tuesday morning, walking back some of the considerable gains made earlier in the week.
A strong loonie contributed to some of the losses seen in canola. The dollar edged over 76 United States cents in early morning trade due to comparable weakness in the U.S. dollar index.
Strength in comparable vegetable oils tempered losses for canola. Nearby soyoil contracts were up by about two tenths of a cent, and Malaysian palm oil and European rapeseed were higher as well.
About 5,000 canola contracts had traded as of 8:40 CDT.
Prices in Canadian dollars per metric ton at 8:40 CDT:
Price Change
Canola Nov 520.50 dn 2.80
Jan 527.50 dn 2.80
Mar 533.20 dn 3.10
May 534.80 dn 2.00
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