By Glen Hallick, MarketsFarm
WINNIPEG, Aug. 10 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were mostly lower on Tuesday morning in choppy trading.
There were gains in the Chicago soy complex, with soyoil making a small nudge upward. European rapeseed was narrowly mixed and Malaysian palm oil was a little lower.
Canola pulled back yesterday due to profit-taking.
Rain fell on southern parts of the Prairies, dropping five to 40 millimeters, which will slightly delay the harvest that’s still in its early stages. Temperatures across the region will rise to around 30 degrees Celsius by week’s end.
The Canadian dollar was a pinch lower this morning, with the loonie at 79.51 U.S. cents compared to Monday’s close of 79.59.
About 1,950 canola contracts had traded as of 8:38 CDT.
Prices in Canadian dollars per metric tonne at 8:38 CDT:
Price Change
Canola Nov 881.60 dn 0.60
Jan 865.60 dn 1.20
Mar 851.40 up 0.80
May 831.10 dn 0.40
