ICE Canada Morning Comment : Canola Slips Back With Chicago Soy

WINNIPEG, Manitoba--Intercontinental Exchange canola futures were lower on Thursday morning, getting pressure from declines in the Chicago soy complex, particularly soyoil.

Losses in global crude oil prices weigh on vegetable oil values.

That saw Malaysian palm oil to the downside, while European rapeseed was narrowly mixed.

The Canadian dollar was relatively steady on Thursday morning with the loonie at 75.04 U.S. cents, compared to Wednesday's close of 75.03.

Canola crush margins pulled back with only the nearby January position exceeding C$200 per tonne above the futures.

The last trading day for January canola options is tomorrow, with first notice day for January futures a week later.

Approximately 9,900 contracts had traded by 9:40 a.m. EST and prices in Canadian dollars per metric ton were:

Canola 
         Price    Change 
 
Jan      644.00   dn 4.30 
 
Mar      658.70   dn 3.10 
 
May      667.50   dn 3.80 
 
Jul      672.70   dn 3.70 
 

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

(END) Dow Jones Newswires

12-21-23 1011ET