Glacier FarmMedia – Canola futures on the Intercontinental Exchange approached the weekend in negative territory, with the March contract dropping below the C$600 per tonne mark.
The Canadian Grain Commission reported canola exports for the week ended Dec. 14 were 57,400 tonnes, well below the previous week’s 289,200. Due to a lack of Chinese buying, 2.434 million tonnes of canola have been exported this marketing year compared to 4.476 million last year.
Chicago soyoil was slightly higher, while European rapeseed and Malaysian palm oil were solidly lower. Crude oil increased as tensions between the United States and Venezuela grow.
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ICE canola price slide continues Friday
Glacier FarmMedia — ICE Futures canola contracts continued their downward slide on Friday, as the market lacked any supportive fundamental…
Nearly 11,100 contracts were traded. Prices in Canadian dollars per metric ton as of 8:47 CST:
Jan 583.50 dn 4.80
Mar 595.60 dn 4.60
May 607.80 dn 4.70
Jul 617.10 dn 4.60
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