By Glen Hallick, MarketsFarm
WINNIPEG, Jan. 15 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were steady to lower at midday Friday, as the Chicago soy complex was down.
In particular, soyoil fell by more than a penny per pound. Additionally, there were declines in Malaysian palm oil and European rapeseed.
A Winnipeg-based trader stated with canola being lower, it was doing so at a pace much slower than the product values, which meant the Canadian oilseed was more expensive today than it was yesterday.
The Canadian dollar was weaker as the loonie dropped to 78.53 U.S. cents, after closing Thursday at 79.03.
The Canadian Grain Commission reported that producer deliveries of canola amounted to 516,100 tonnes for the week ended Jan. 10. Canola exports were 190,000 tonnes and domestic usage was 216,200 tonnes.
Approximately 17,100 canola contracts were traded as of 10:43 CST.
Prices in Canadian dollars per metric tonne at 10:43 CST:
Canola Mar 687.70 unchanged
May 668.90 dn 3.40
Jul 652.50 dn 4.50
Nov 553.20 dn 2.50