ICE canola down at midday Friday

By Phil Franz-Warkentin, MarketsFarm

WINNIPEG, Aug. 14 (MarketsFarm) – The ICE Futures canola market was weaker at midday Friday, taking some direction from the softer Chicago Board of Trade soy complex.

Speculative long liquidation contributed to the losses in canola, as fund traders continued to book profits on recent gains in the market.

The looming harvest also weighed on values, with anecdotal reports pointing to a large canola crop despite issues in some parts of the Prairies.

A slightly weaker tone in the Canadian dollar provided some support. Good demand from both exporters and domestic crushers also underpinned the market.

About 11,000 canola contracts traded as of 10:45 CDT.

Prices in Canadian dollars per metric tonne at 10:45 CDT:

Price Change
Canola Nov 483.80 dn 1.90
Jan 490.20 dn 1.60
Mar 494.60 dn 1.40
May 498.70 dn 1.00

Futures Prices as of August 14, 2020

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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