ICE Midday: Canola Prices Slump Amid Mixed Oil Sentiment

Canola futures on the Intercontinental Exchange (ICE) were under pressure in mid-day trading, as mixed sentiment in comparable oils weighed on prices. Analysts expect dry weather to advance the region's canola harvest, which could benefit oilseed prices if crude oil holds onto gains.

The Canadian Grain Commission reported a negligible amount of canola exports during the week ended September 13, with year-to-date totals reaching 709,600 tonnes. However, European rapeseed was higher in trading, while Chicago soyoil and Malaysian palm oil were lower.

The Canadian dollar was down more than one-tenth of a U.S. cent compared to Thursday's close, which may impact canola prices.