ICE Canola Narrowly Mixed in Morning Trading

WINNIPEG, Manitoba--ICE canola futures were narrowly mixed Thursday morning, consolidating in a narrow range after moving higher in overnight trade.

Chart-based positioning was a feature amid ideas that the market was looking oversold.

End-user bargain hunting was supportive, with wide crush margins thought to be encouraging demand from domestic processors.

However, ongoing lack of export demand from China remained a bearish influence.

Outside markets were mixed, with gains in Chicago soybeans and losses in soyoil. European rapeseed and Malaysian palm oil were both trading near unchanged.

The Canadian dollar was stronger in early trade, hitting its highest levels in three months relative to its U.S. counterpart.

About 23,300 canola contracts had traded as of 8:52 a.m. CST.

Prices in Canadian dollars per metric ton at 8:52 a.m. CST:

 
           Price      Change 
Jan       615.70     up 0.30 
Mar       626.80   unchanged 
May       637.90     dn 0.50 
Jul       644.80     dn 1.00 
 

Source: Commodity News Service Canada, [e-mail]

(END) Dow Jones Newswires

12-11-25 1023ET