Glacier FarmMedia — ICE canola futures were weaker Thursday morning, with spillover selling pressure from losses in Chicago soyoil behind some of the declines.
European rapeseed and Malaysian palm oil were also lower on the day.
Ongoing concerns over Chinese demand, as anti-dumping duties imposed by the country come into effect today, remained a bearish influence on the market. However, canola futures were holding above the nearby lows hit in immediate response to the duties when they were announced earlier in the week.
The Canadian dollar was softer in early trade, providing some underlying support.
About 14,000 canola contracts had traded as of 8:43 CDT.
Prices in Canadian dollars per metric tonne at 8:43 CDT:
Canola Nov 653.10 dn 6.70
Jan 666.00 dn 6.80
Mar 676.40 dn 6.90
May 685.40 dn 7.20
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
