Canola up with soyoil and weaker currency at midday

By Phil Franz-Warkentin, Commodity News Service Canada

WINNIPEG, Feb. 6 (CNS Canada) – ICE Futures canola contracts were stronger at midday Wednesday, hitting their best levels in a week.
Gains in Chicago Board of Trade soyoil and weakness in the Canadian dollar contributed to the firmer tone in canola, as that combination helped crush margins improve.
However, the large stocks reported by Statistics Canada on Tuesday remained a bearish influence in the background.
Trade was cautious ahead of a number of key reports due out from the United States Department of Agriculture on Friday.
About 10,500 canola contracts traded as of 10:44 CST, with intermonth spreading a feature.

Prices in Canadian dollars per metric tonne at 10:44 CST:

Price Change
Canola Mar 484.70 up 2.10
May 492.60 up 2.10
Jul 500.10 up 2.50
Nov 496.70 up 1.80

Futures Prices as of February 6, 2019

2019-02-01 13:19
Price Change
Mar 482.40 0.70
May 490.40 0.80
Jul 497.70 0.80
Nov 495.50 1.40
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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