WINNIPEG--The ICE Futures canola market was mixed Monday with prices struggling to find direction.
Lower soybean prices and other macroeconomic pressures are limiting the upside for canola prices, an analyst said. However, a weakened Canadian dollar has also brought support.
Chicago soyoil made a slight decline, while European rapeseed was mixed. The Malaysian palm oil market was closed for a national holiday. Despite oil flows from the Ceyhan export terminal in Turkey being halted by a major earthquake in the country, crude-oil prices were in the red at midday.
The Canadian dollar lost nearly one-third of a U.S. cent compared to Friday's close.
Nearly 12,900 canola contracts were traded as of 11:29 a.m. EST.
Price Change
Mar 832.20 up 0.60
May 829.70 up 0.80
Jul 829.90 dn 0.40
Nov 808.20 dn 2.70
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
02-06-23 1202ET
