WINNIPEG, Manitoba--ICE Futures canola contracts were mostly lower at midday Wednesday, with the largest losses in the nearby July contract.
A weaker tone in Chicago soybeans and soyoil accounted for spillover selling pressure in the Canadian oilseed, with declines in crude oil bearish for the world vegetable oil markets.
European rapeseed and Malaysian palm oil were also weaker at midday.
Seasonal price trends helped temper the declines in the new crop months, with farmer selling limited as producers remained focused on spring seeding.
Canola futures held above key technical levels but ran into resistance to the upside.
An estimated 36,500 canola contracts traded as of 11:27 a.m. EDT.
Prices in Canadian dollars per metric ton at 11:27 a.m. EDT:
Price Change
Jul 753.60 dn 4.10
Nov 762.40 dn 1.20
Jan 769.70 dn 1.20
Mar 775.00 dn 1.50
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
05-20-26 1156ET
