ICE Midday : Canola Moves Lower in Choppy Trade

WINNIPEG, Manitoba– The ICE Futures canola market was seeing some choppy activity on Wednesday, with an attempt at moving higher running into resistance as the oilseed took direction from losses in Chicago soybeans and soyoil. Markets in the U.S. will be closed on Thursday for Thanksgiving and will be open for reduced hours on Friday, while the canola market will trade as normal. Positioning ahead of the U.S. holiday was a feature, with the possibility of more volatility in canola amid the lack of liquidity. The January canola contract was flirting with the 50-day moving average at midday, after starting the session well above that key technical mark. A trader noted that a close above that level would be supportive…