By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures dipped lower on Tuesday morning, after starting the session on the upswing.
Pressure came from losses in Chicago soyoil, but there were gains in soybeans and soymeal. Malaysian palm oil and MATIF rapeseed were also climbing upward, but declines in crude oil pressured the vegetable oils.
The January canola contract remained close to or above its 20- and 50-day moving averages.
Statistics Canada is set to publish its principal field crop report on Thursday. A number of participants suggested StatCan will increase its canola production estimate from 20.03 million tonnes, but they said the agency has often underestimated the year’s harvest in their December reports.
Read Also
North American Grain/Oilseed Review: Canola, grains move downward
Glacier FarmMedia -– Canola futures on the Intercontinental Exchange were lower in Monday trading amidst mixed sentiment in comparable oils….
The Canadian dollar stepped back on Tuesday morning, with the loonie at 71.44 U.S. cents, compared to Monday’s close of 71.54.
Approximately 17,750 contracts were traded by 8:44 CST and prices in Canadian dollars per metric tonne were:
Price Change
Canola Jan 646.00 dn 1.20
Mar 659.40 dn 1.50
May 669.90 dn 1.80
Jul 675.90 dn 1.70
Stay informed with our daily market videos. Each video quickly covers key futures moves, price trends, and market signals that matter to Canadian farmers. Get clear, timely insights in just a few minutes. Bookmark https://www.producer.com/markets-futures-prices/videos
