Intercontinental Exchange (ICE) canola futures were pulling back on Friday morning, amid mixed signals from comparable oils.
While there were gains in Chicago soyoil, soybeans and soymeal were down. As were the front months of European rapeseed with its deferred positions on the rise. Malaysian palm oil as well was higher. Small losses in global crude prices exerted some pressure on edible oils.
As has been the case, tight supplies and price rationing continued to underpin canola values.
The Canadian Grain Commission reported producer deliveries of canola jump more than 129 per cent for the week ended Jan. 16 at 340,100 tonnes. Exports fell 38.5 per cent from the previous week at 75,200 tonnes and domestic usage dropped 41.4 per cent at 117,700 tonnes.
The Canadian dollar was weaker this morning, with the loonie at 79.83 U.S. cents, compared to Thursday's close of 80.17.
About 4,500 canola contracts had traded as of 9:39 ET.
Prices in Canadian dollars per metric tonne at 9:39 ET:
Price Change
Canola
Mar 1,020.30 dn 1.70 May 1,003.90 dn 1.50 Jul 961.20 dn 7.20 Nov 822.00 dn 3.90
(END) Dow Jones Newswires
01-21-22 1006ET
