ICE canola futures: Prices lower Tuesday morning

WINNIPEG, July 28 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were lower on Tuesday morning, retreating from yesterday’s six-month highs.
Losses in the Chicago soy complex were a negative influence on canola prices. Nearby Chicago soyoil contracts were weaker by about four tenths of a cent in early morning trade.
Good growing conditions with hot weather and isolated storms are forecast across the Canadian Prairies for the next week.
Strength in the Canadian dollar also weighed canola prices. The loonie was at 74.7 U.S. cents during early morning trade.
About 3,000 canola contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric ton at 8:35 CDT:
                          Price      Change
Canola      Nov 486.10 dn 2.50
Jan 493.10 dn 2.50
Mar 498.20 dn 1.90
May 501.40 dn 1.50

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