ICE Canola Drops Monday Morning

By Phil Franz-Warkentin, Commodity News Service Canada

WINNIPEG, Nov. 20 (CNS Canada) – ICE Futures Canada canola contracts were weaker Monday morning, taking some direction from the Chicago Board of Trade soy complex.

Chart-based speculative selling contributed to the declines, as the January contract backed away from resistance around the C$520 per tonne level.

However, solid end user demand from both exporters and domestic crushers provided support underneath the market. The Canadian dollar was slightly softer in early activity, which also helped underpin the canola market.

U.S. markets will be closed Thursday for Thanksgiving, and positioning ahead of the holiday could lead to some price swings in the futures markets as traders square positions and volumes drop off over the next few days.

About 3,700 canola contracts had traded as of 9:05 CST.

Futures Prices as of November 20, 2017

Canola
2017-11-20 09:06
Price Change
Jan 515.5 -3.90
Mar 523.3 -3.90
May 527.4 -3.70
Jul 530.3 -3.60
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

explore

Stories from our other publications