By Glen Hallick, MarketsFarm
WINNIPEG, Sept. 30 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were closed on Friday to mark the second annual National Day for Truth and Reconciliation in Canada.
The week saw canola prices rise as the nearby November contract added more than C$32 per tonne. Daytime trading is set to resume on Monday.
Saskatchewan reported that its provincewide harvest of canola was about two-thirds complete. Alberta is scheduled to release its weekly crop report this afternoon.
The Canadian Grain Commission reported that for the week ended Sept. 25, producer deliveries of canola were 569,600 tonnes, which is up 26.7 per cent from the previous week. Although still small, canola exports of 22,400 tonnes rose just over 82 per cent. At 214,100 tonnes, domestic usage was up almost 19 per cent.
Read Also
North American grain/oilseed review: Canola downtrend continues
Glacier FarmMedia — The ICE Futures canola market settled lower for the fifth session in a row on Wednesday, as…
The Canadian dollar eased back to 72.88 U.S. cents, compared to Thursday’s close of 72.96.
In comparable oils, Chicago soybeans and soymeal were higher, while soyoil stepped back. There were gains in European rapeseed and Malaysian palm oil. Small declines in global crude oil prices put some pressure on the vegetable oils.
No canola contracts were traded on Sept. 30.
Prices in Canadian dollars per metric tonne:
Price Change
Canola Nov 852.00 0.00
Jan 860.20 0.00
Mar 867.20 0.00
May 869.30 0.00
