ICE canola mixed in thin trade

By Phil Franz-Warkentin, MarketsFarm

WINNIPEG, Jan. 16 (MarketsFarm) – The ICE Futures canola market was mixed Monday morning, with losses in the front months and gains in the more deferred new crop positions.

Activity was thin and choppy, as markets in the United States were closed for Martin Luther King Jr. Day.

European rapeseed and Malaysian palm oil futures were both lower overnight, accounting for some spillover selling pressure in the Canadian oilseed.

The Canadian dollar was steady in early activity, providing little direction.

About 3,100 canola contracts had traded as of 8:44 CST.

Prices in Canadian dollars per metric ton at 8:44 CST:

Canola            Mar   838.50    dn  1.50

May   838.40    dn  1.30

Jul   839.80    dn  1.50

Nov   821.80    up  2.80