ICE canola mixed in choppy midday trade

By Phil Franz-Warkentin, MarketsFarm

WINNIPEG, Oct. 15 (MarketsFarm) – The ICE Futures canola market was narrowly mixed at midday Thursday, with the intermonth spread trade a feature of the activity as participants continued to roll their positions out of the nearby November contract.

Losses in Chicago Board of Trade soyoil futures accounted for some spillover selling pressure in canola, according to participants.

Early declines in CBOT soybeans had also weighed on values, although a turn higher in soybeans helped canola move off of its lows.

A weaker tone in the Canadian dollar, which was down by roughly half a cent relative to its United States counterpart, was also supportive for canola.

Prices were holding rangebound from a chart-perspective, as values continued to consolidate just below nearby highs.

About 17,500 canola contracts traded as of 10:28 CDT.

Prices in Canadian dollars per metric tonne at 10:28 CDT:

Price Change
Canola Nov 525.90 dn 0.30
Jan 533.60 up 0.20
Mar 539.90 up 0.20
May 541.70 dn 0.20

Futures Prices as of October 15, 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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