ICE Canola Mixed in Choppy Morning Trade

WINNIPEG, Manitoba--The ICE Futures canola market was narrowly mixed Wednesday morning in choppy trade.

Canola had moved higher in overnight activity, seeing a correction after recent losses. However, a downturn in Chicago soyoil spilled over to the Canadian market to pull canola back towards unchanged.

European rapeseed and Malaysian palm oil futures were both narrowly rangebound, providing little direction.

Weakness in the Canadian dollar provided some underlying support. The need to keep some weather premiums in the market, with crop development behind normal across much of the Prairies, also helped underpin the futures.

About 6,400 canola contracts had traded as of 9:45 EDT.

 
Prices in Canadian dollars per metric ton at 9:45 EDT: 
 
Canola      Nov         814.90          up 1.50 
            Jan         823.00          up 0.70 
            Mar         827.60          up 0.30 
            May         828.20          dn 1.30 
 

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

(END) Dow Jones Newswires

08-17-22 1011ET