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ICE Canola Continues Downtrend Friday Morning

01/14/2022 | 10:10am EST

The ICE Futures canola market remained pointed lower Friday morning, as speculators continued to liquidate their long positions and book profits.

Weakness in the Chicago Board of Trade soy complex put some additional spillover pressure on the Canadian oilseed.

However, European rapeseed and Malaysian palm oil futures were both higher in overnight activity.

Tight Canadian canola supplies remain a supportive influence in the background, but demand has already been curtailed considerably leaving the market open to a correction.

About 6,500 canola contracts had traded as of 9:35 ET.

Prices in Canadian dollars per metric ton at 9:35 ET:

                          Price      Change 
Canola            Mar     976.90     dn  7.90 
                  May     962.80     dn  8.50 
                  Jul     933.60     dn  7.60 
                  Nov     791.20     dn  4.60 

(END) Dow Jones Newswires

01-14-22 1009ET

Stocks mentioned in the article
ChangeLast1st jan.
CRUDE PALM OIL 0.00% 1209.5 End-of-day quote.7.85%
LONDON BRENT OIL -0.16% 87.52 Delayed Quote.11.05%
ON SEMICONDUCTOR CORPORATION -6.38% 59.01 Delayed Quote.-13.12%
WTI 0.18% 85.121 Delayed Quote.15.15%
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