WINNIPEG, Manitoba--There were gains in canola on the Intercontinental Exchange mid-morning Tuesday, but they came away from session highs in choppy activity.
A trader said there was talk of possible canola sales, but he wasn't sure of the quantity or the destination. He also said there is trendline support for canola in coming off of its lows.
Canola was getting some support from modest upticks in Malaysian palm oil, but the Chicago soy complex and MATIF rapeseed were lower. Losses in crude oil added more pressure on the vegetable oils.
The U.S. Department of Agriculture is set to issue its December supply and demand estimates, with the markets to take direction from the latest numbers.
The Canadian dollar held relatively steady at mid-session Tuesday, with the loonie at 72.31 U.S. cents, compared with Monday's close of 72.27.
Approximately 53,950 canola contracts were traded as of 11:48 a.m. EST, with prices in Canadian dollars per metric ton:
Price Change
Jan 615.50 up 1.80
Mar 627.40 up 1.30
May 639.80 up 1.10
Jul 648.70 up 1.30
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
12-09-25 1209ET
