By Glen Hallick, Commodity News Service Canada
WINNIPEG, Feb. 20 (CNS Canada) – ICE Futures canola contracts were down Wednesday morning following Tuesday’s sell-off.
Canola futures were losing about C$2 per tonne, with the March contract down to C$470.80 per tonne.
The United States stocks markets were again sluggish; starting Wednesday morning on cautious optimism towards the U.S./China trade talks between lower-level officials in Washington, D.C. High-level negotiations resume on Thursday, picking up from where they left off in Beijing last week.
On the Chicago Board of Trade, soybean bids were incurring losses putting pressure on canola. The March contract was down 5.5 cents at US$8.95 per bushel. Soyoil contracts were steady with the March contract at 29.73 U.S. cents per pound.
The Canadian dollar was up slightly Wednesday morning at 75.82 U.S. cents.
About 8,000 canola contracts had traded as of 8:44 CST.
Prices in Canadian dollars per metric ton at 8:44 CST:
Price Change
Canola Mar 471.30 dn 2.40
May 479.90 dn 2.40
Jul 487.10 dn 2.40
Nov 490.50 dn 1.80
