WINNIPEG, Manitoba--Intercontinental Exchange canola futures were mostly higher Wednesday morning, garnering support from increases in Chicago soybeans and soymeal. The new crop November contract was the outlier, as it stepped back.
Pressure on the Canadian oilseed came from small declines in Chicago soyoil, as well as somewhat larger losses in European rapeseed and Malaysian palm oil. Weaker global crude oil prices weighed on vegetable oils.
The Canadian dollar climbed Wednesday morning as the U.S. dollar backpedaled. The loonie rose to 73.91 U.S. cents from Tuesday's close of 73.22.
About 13,100 contracts had traded as of 9:35 a.m. EST.
Prices in Canadian dollars per metric ton at 9:35 a.m. EST:
Price Change
Canola Mar 872.80 up 1.20
May 868.50 up 0.80
Jul 867.00 up 0.90
Nov 834.30 dn 1.10
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
01-04-23 0959ET
