By Glen Hallick
Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures were lower at mid-session Friday.
Losses in most comparable oils weighed on canola values. The Chicago soy complex and European rapeseed were grinding lower, while Malaysian palm oil nudged up. Global crude oil prices were pulling back, adding more pressure on the oilseeds.
The Canadian Grain Commission reported producer deliveries of canola for the week ended Feb. 18 bumped up to 388,200 tonnes. While exports slipped to 116,000 tonnes domestic usage rose to 203,200 tonnes.
The Canadian dollar was lower late Friday morning with the loonie at 74.00 U.S. cents compared to Thursday’s close of 74.11.
Friday is the final trading day for March grain options and first notice day is set for Thursday.
Approximately 20,100 canola contracts were traded as of 10:33 CST, with prices in Canadian dollars per metric tonne:
Price Change Canola Mar 568.70 dn 1.70 May 578.90 dn 2.40 Jul 587.40 dn 2.20 Nov 594.10 dn 2.00
