WINNIPEG, Manitoba--The ICE Futures canola market was trading to both sides of unchanged on Wednesday, with the bias turning higher in most months at midday.

Speculative positioning was a feature, as recent activity has been constructive from a chart standpoint, according to participants.

Talk of fresh export demand underneath the market was also supportive.

However, farmer selling was likely coming forward on any moves higher - tempering the upside. Losses in Chicago soyoil and European rapeseed also put some pressure on the Canadian oilseed.

An estimated 19,800 canola contracts traded as of 11:52 EST.

Prices in Canadian dollars per metric tonne at 11:52 EST: 


 
Canola 
        Price   Change 
 Mar    639.60  up 0.50 
 May    644.40  up 1.30 
 Jul    648.00  up 1.10 
 Nov    645.40  up 1.10

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


(END) Dow Jones Newswires

01-24-24 1218ET