The ICE Futures canola market was weaker at midday Wednesday, retreating from earlier gains as traders squared positions ahead of the U.S. Thanksgiving holiday.

Soyoil futures at the Chicago Board of Trade were still stronger at midday, but soybeans, corn and wheat futures were all lower.

"We're just following the break in the U.S.," said a Winnipeg-based trader. He added that chart-based positioning was likely a feature in canola, with no real change from a fundamental standpoint.

The canola market will trade its usual hours Thursday while the U.S. closes for Thanksgiving, which could lead to some volatility in thin volumes.

About 12,000 canola contracts traded as of 11:41 ET. 


 
 
 
     Prices in Canadian dollars per metric tonne at 11:41 ET: 
 
 
 
                          Price      Change 
 
Canola            Jan   1,020.10    dn  4.60 
 
                  Mar     992.30    dn  5.10 
 
                  May     955.30    dn  6.80 
 
                  Jul     912.50    dn  7.60

(END) Dow Jones Newswires

11-24-21 1215ET