ICE canola slightly lower Wednesday

By Marlo Glass, MarketsFarm
WINNIPEG, Dec. 11 (MarketsFarm) – The ICE Futures canola market was slightly lower on Wednesday morning, taking pricing cues from Malaysian palm oil and soybeans on the Chicago Board of Trade.
The World Agriculture Supply Demand Estimates (WASDE) from the United States Department of Agriculture (USDA) left U.S. soybean carryout at 475 million bushels, which provided some pressure to the soy complex.
A relatively stronger Canadian dollar kept pressure on canola prices. The dollar was around 75.57 U.S. cents on Wednesday morning.
About 4,300 canola contracts had traded as of 8:35 CST.
Prices in Canadian dollars per metric ton at 8:35 CST:
Price Change
Canola Jan 457.90 dn 0.90
Mar 467.10 dn 0.80
May 475.70 dn 0.20
Jul 481.80 dn 0.10

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