ICE Canola Trying to Turn Around in Early Trading

WINNIPEG, Manitoba--Intercontinental Exchange canola futures were mostly lower Wednesday morning, but were attempting to recover from Tuesday's losses.

Along with support from upticks in the Chicago soy complex, there was spillover coming from increases in European rapeseed, Malaysian palm oil and global crude oil prices.

Scattered showers were forecast Wednesday in parts of each Prairie province. Temperatures are expected to reach the mid to high teens Celsius.

Manitoba Agriculture reported the province-wide harvest was 90% complete with the combining of canola at 94% finished.

The Canadian dollar was a pinch lower on Wednesday morning as the loonie dips to 73.24 U.S. cents compared with Tuesday's close of 73.28.

About 7,400 contracts had traded as of 9:34 a.m. EDT.

Prices in Canadian dollars per metric ton at 9:34 a.m. EDT:

 
                 Price    Change 
Canola      Nov  718.50  dn 0.70 
            Jan  723.80  up 0.50 
            Mar  729.10  dn 0.50 
            May  733.50  up 0.10 
 
 

Source: Commodity News Service Canada, [e-mail]

(END) Dow Jones Newswires

10-18-23 1011ET