By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, April 29 (MarketsFarm) – The ICE Futures canola market was mixed Thursday morning, retreating from overnight gains in the most active months as a downturn in the Chicago Board of Trade soy complex weighed on values.
Continued strength in the Canadian dollar, which was at its highest level in nearly four years relative to its United States counterpart, also weighed on canola.
However, ongoing concerns over tight old crop supplies and uncertainty over new crop production remained supportive.
About 4,200 canola contracts had traded as of 8:41 CDT.
Prices in Canadian dollars per metric ton at 8:41 CDT:
Price Change
Canola May 910.00 up 15.00
Jul 836.80 up 3.40
Nov 687.10 dn 0.10
Jan 683.90 dn 1.50
