ICE canola recovering from early losses at midday

By Phil Franz-Warkentin, MarketsFarm

WINNIPEG, July 29 (MarketsFarm) – The ICE Futures canola market was posting small gains in the most active months at midday Thursday, recovering from early declines after finding some support to the downside.
Sharp strength in the Canadian dollar, which was up by roughly half of a cent relative to its United States counterpart, accounted for some selling pressure in canola. Speculative long liquidation also weighed on prices in early activity.
However, ongoing drought concerns across Western Canada, with forecasts calling for more heat and dryness over the next week, remained supportive.
Gains in Chicago Board of Trade soybeans and soyoil also underpinned canola.
About 9,300 canola contracts traded as of 10:39 CDT.

Prices in Canadian dollars per metric tonne at 10:39 CDT:

Price Change
Canola Nov 883.20 up 0.20
Jan 869.70 up 0.50
Mar 855.40 up 0.60
May 835.10 up 0.40

Futures Prices as of July 29, 2021

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

Prices are in Canadian dollars per metric ton

About the author

Glacier FarmMedia Feed

GFM Network News

Glacier FarmMedia, a division of Glacier Media, is Canada's largest publisher of agricultural news in print and online.

Comments

explore

Stories from our other publications