By Glen Hallick, MarketsFarm
WINNIPEG, May 25 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were mostly lower at midday Tuesday, with the exception of the old crop July contract.
The July has seen wide swings over the last number of weeks as interest in the contract has been waning. That includes the contract hitting is limit up earlier in the session.
The Chicago soy complex was mixed, with sharp declines in soybeans and soymeal, while there were good increases in soyoil. There were mixed signals as well from European rapeseed, while Malaysian palm oil was higher.
A trader said the rain over the Victoria long weekend brought some much need moisture to Prairie crops, but the region’s farmers are nervous about the possibility for frost over the coming days.
The Canadian dollar was pulling back a little with the loonie at 82.80 U.S. cents, compared to Friday’s close of 82.91.
Approximately 11,350 canola contracts were traded as of 10:45 CDT.
Prices in Canadian dollars per metric tonne at 10:45 CDT:
Price Change
Canola Jul 896.00 up 12.80
Nov 700.90 dn 5.90
Jan 695.80 dn 7.10
Mar 685.10 dn 7.00
