WINNIPEG, Manitoba--The ICE Futures canola market continued to show weakness Thursday while there was overall mixed sentiment in comparable oils.

One analyst said that canola has traded rangebound since early December and that C$830 per metric ton is a "fairly important support level."

"If that doesn't hold, then C$800/tonne has been the longer-term support level for the past six or seven months now," the analyst said.

Chicago soyoil was lower at midday, along with European rapeseed. However, Malaysian palm oil was mixed. After morning declines due to economic growth concerns and a 7.6 million-barrel increase in U.S. commercial stockpiles, according to the American Petroleum Institute, crude oil rebounded to make modest gains.

The Canadian dollar is down nearly one-quarter of a U.S. cent compared with close.

Nearly 20,600 canola contracts were traded as of 10:23 a.m. CST. 


 
                 Price   Change 
           Mar  831.90  dn 4.80 
           May  830.50  dn 5.40 
           Jul  831.30  dn 6.10 
           Nov  811.00  dn 6.80

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

01-19-23 1159ET