WINNIPEG, Manitoba--The ICE Futures canola market was trading to both sides of unchanged on Wednesday, with the bias turning higher in most months at midday.
Speculative positioning was a feature, as recent activity has been constructive from a chart standpoint, according to participants.
Talk of fresh export demand underneath the market was also supportive.
However, farmer selling was likely coming forward on any moves higher - tempering the upside. Losses in Chicago soyoil and European rapeseed also put some pressure on the Canadian oilseed.
An estimated 19,800 canola contracts traded as of 11:52 EST.
Prices in Canadian dollars per metric tonne at 11:52 EST:
Canola Price Change Mar 639.60 up 0.50 May 644.40 up 1.30 Jul 648.00 up 1.10 Nov 645.40 up 1.10
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
01-24-24 1218ET