ICE Canola Mixed Ahead of Holiday Break

Downward pressure was found from overnight losses in e-CBOT soybeans as well as European rapeseed.

The market jumped nearly C$7/bushel Wednesday, and that has many market participants booking profits, with the holiday season right around the corner, experts said.

The Canadian dollar was slightly stronger early Thursday, providing a bearish tone to values.

Upside in canola was found from a lack of willing sellers, as many producers have moved to the sidelines and will wait until 2011 before marketing product, brokers said.

Overnight gains made by Malaysian palm oil also assisted canola values.

Activity is expected to turn thin and choppy over the next week, with lighter volumes during the Christmas/ New Year’s period resulting in some volatility in the market, analysts said.

At 08:30 CST, there had been about 2,400 canola contracts traded.

Western barley futures were unchanged and untraded early Thursday.

Prices in Canadian dollars per metric ton at 08:30 CST: