WINNIPEG--ICE Futures canola contracts were mixed Wednesday, although the bias was higher in the most active months as investors adjust positions in thin and choppy trade.

Chicago soybean and soyoil futures were holding near unchanged, while European rapeseed was lower and Malaysian palm oil higher. The Canadian dollar was slightly weaker at midsession.

Mixed forecasts out of South America were keeping some caution in the world oilseed markets. Persistent drought is cutting into soybean production prospects in Argentina and is countered by relatively favorable weather in Brazil.

Canola remains stuck in a broad sideways trading range from a chart perspective.

About 12,800 canola contracts traded as of 11:15 a.m. EST.


Prices in Canadian dollars per metric ton:


Canola 


   Months Price   Change 
   Jan    880.00  up 3.70 
   Mar    863.00  up 4.50 
   May    856.20  up 1.70 
   Jul    851.60  dn 0.20

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


(END) Dow Jones Newswires

12-14-22 1148ET