By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Nov. 17 (MarketsFarm) – The ICE Futures canola market was mixed Wednesday morning, as the spreads saw some adjustment.
Chart-based positioning was a feature, with the nearby January contract continuing to back away from its highs.
Gains in the Chicago Board of Trade soy complex provided some spillover support for canola. Malaysian palm oil was also up overnight, but European rapeseed futures were lower.
Transportation issues in British Columbia were keeping some caution in the market, as flooding and landslides have halted rail movement in and out of the Port of Vancouver.
About 10,800 canola contracts had traded as of 8:45 CST.
Prices in Canadian dollars per metric ton at 8:45 CST:
Price Change
Canola Jan 1,010.60 dn 5.20
Mar 989.80 up 3.40
May 954.70 up 2.20
Jul 910.70 up 0.60
