ICE canola continues lower to start week

By Phil Franz-Warkentin, MarketsFarm

WINNIPEG, Aug. 3 (MarketsFarm) – The ICE Futures canola market was weaker Tuesday morning seeing a continuation of last week’s selloff.
While hot and dry Prairie weather conditions remained supportive, bearish technical signals kept speculators on the sell side in canola.
Losses in the Chicago Board of Trade soy complex contributed to the declines in canola, with better-than-expected Midwestern crop conditions behind some of the weakness in the United States futures.
In addition to the ongoing drought worries, canola also found some support from early weakness in the Canadian dollar.
About 5,700 canola contracts had traded as of 8:56 CDT.

Prices in Canadian dollars per metric ton at 8:56 CDT:

Price Change
Canola Nov 832.10 dn 9.00
Jan 824.50 dn 11.40
Mar 816.30 dn 11.80
May 801.00 dn 11.50

Futures Prices as of August 3, 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

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