By Marlo Glass, MarketsFarm
WINNIPEG, July 27 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were on either side of unchanged on Monday morning, with mild weakness observed in nearby contracts.
Losses in comparable soyoils kept pressure on canola prices. The Chicago soy complex was weaker by about a quarter of a cent in early morning trade. Malaysian palm oil was also lower in overnight trade.
Strength in the Canadian dollar also weighed canola prices. The loonie was at 74.6 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 487.70 dn 0.10
Jan 494.40 dn 0.10
Mar 499.30 up 0.10
May 502.30 up 0.10
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