ICE Canola Midday: Prices higher at midday

By Marlo Glass, MarketsFarm

WINNIPEG, March 31 – ICE Futures canola contracts were higher at midday Tuesday, boosted by an announcement that China will resume importing Canadian canola.
However, one Winnipeg-based trader cautioned that the fresh news is “short in details” at this point.
The trader also believed the recent rally in canola prices before the announcement was in anticipation of this news.
Short covering has also been a feature in recent trading, which was supportive of canola values.
The Canadian dollar kept pressure on canola prices. The dollar was under 70 U.S. cents to start the day, but had risen to 70.55 cents at midday.
The trader noted that exports have been strong for the marketing
Approximately 30,500 canola contracts were traded as of 10:40 CDT.
Prices in Canadian dollars per metric tonne at 10:40 CDT:
                          Price      Change
Canola            May     469.50    up  2.00
                  Jul     478.70    up  2.30
                  Nov     485.90    unch
                  Jan     492.30    up  1.10

Futures Prices as of March 31, 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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