By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were higher on Tuesday morning, turning around from yesterday’s losses.
There was support for canola coming from gains in the Chicago soy complex, Malaysian palm oil and MATIF rapeseed. Upticks in crude oil added to the increases in the vegetable oils.
The March canola contract remains mired well behind its major moving averages, adding pressure to values.
Canola crush margins have nudged up since Christmas, with the March position just short of C$198 per tonne above the futures.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were higher at midday Tuesday, however…
Canola exports made some improvement during the week ended Dec. 21, with the Canadian Grain Commission placing them at 96,200 tonnes. That brought the year-to-date tally to 2.54 million tonnes, compared to 4.39 million the same time last year.
The Canadian dollar slipped on Tuesday morning, with the loonie at 73.00 U.S. cents, compared to Monday’s close of 73.07.
Approximately 6,450 contracts had traded by 8:31 CST and prices in Canadian dollars per metric tonne were:
Price Change
Canola Jan 591.80 up 2.20
Mar 605.10 up 2.20
May 615.90 up 2.00
Jul 624.40 up 2.20
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