By Marlo Glass, MarketsFarm
WINNIPEG, Aug. 10 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were weaker on Monday morning, due to pressure from outside markets.
Declines in Chicago soyoil were a negative factor for canola prices. Nearby Chicago soyoil contracts were weaker by about two tenths of a cent in early morning trade.
Relative strength to the Canadian dollar kept pressure on further gains for canola. The loonie was at 74.7 U.S. cents during early morning trade.
About 1,300 canola contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric ton at 8:35 CDT:
Price Change
Canola Nov 488.50 dn 1.70
Jan 494.30 dn 1.80
Mar 498.10 dn 1.60
May 502.00 dn 1.10
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