WINNIPEG, Manitoba--The ICE Futures canola market was posting small gains Wednesday morning, with chart-based positioning a feature as values held above major moving averages.

Gains in outside markets, including Chicago soyoil and European rapeseed, provided spillover support.

A weaker tone in the Canadian dollar contributed to the strength in canola, with the currency down by nearly half a cent relative to its United States counterpart.

However, losses in Chicago soybeans put some pressure on canola, with the Canadian oilseed moving off its overnight highs in choppy activity.

About 8,600 canola contracts had traded as of 9:43 EDT.

Prices in Canadian dollars per metric ton at 9:43 EDT: 


 
 Canola 
        Price   Change 
 May    640.00  up 0.70 
 Jul    649.10  up 1.00 
 Nov    658.60  up 1.20 
 Jan    665.30  up 1.00

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

04-10-24 1019ET