ICE canola down with profit-taking

By Phil Franz-Warkentin, MarketsFarm

WINNIPEG, May 12 (MarketsFarm) – The ICE Futures canola market was mostly weaker Thursday morning, with near-limit-down losses in the nearby July contract as the old/new crop spread saw some adjustment.
Commercial buying interest has largely moved over to the new crop months, leaving the July contract open to speculative profit-taking.
Losses in Chicago Board of Trade soybeans and soyoil also weighed on canola.
However, ongoing concerns over tight supplies and dryness across the Prairies remained supportive.
About 4,800 canola contracts had traded as of 8:40 CDT.

Prices in Canadian dollars per metric ton at 8:40 CDT:

Price Change
Canola Jul 860.00 dn 42.30
Nov 735.00 dn 19.70
Jan 728.50 dn 17.60
Mar 731.70 up 15.50

Futures Prices as of May 13, 2021

Price Change
Milling Wheat
1970-01-01 00:00
Price Change
1970-01-01 00:00
Price Change
New Barley
1970-01-01 00:00
Price Change

Prices are in Canadian dollars per metric ton

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