By MarketsFarm
WINNIPEG, Dec. 22 (MarketsFarm) – The ICE Futures canola market was mostly higher Thursday morning in subdued trade as participants square positions ahead of the holidays.
The March contract moved above both its 20- and 100-day moving averages, encouraging some additional chart-based buying. Solid end-user demand contributed to the gains, as crush margins remain historically wide.
Gains in European rapeseed futures were also supportive, although losses in Chicago soyoil and Malaysian palm oil tempered the advances.
The Canadian dollar was slightly softer in early activity.
About 4,100 canola contracts had traded as of 8:40 CST.
Prices in Canadian dollars per metric ton at 8:40 CST:
Canola Jan 864.00 up 5.30
Mar 861.70 up 4.30
May 857.00 up 3.10
Jul 853.00 up 1.50
