By Marlo Glass, MarketsFarm
WINNIPEG, July 22 (MarketsFarm) – The ICE Futures canola market was mostly unchanged on Monday morning, bouncing back slightly from overnight trading activity that showed a bias to the downside. Prices remain largely in a consolidation pattern.
Improving growing conditions across North America mean markets are slowly starting to lose their weather premiums.
Agriculture and Agri-Food Canada (AAFC) dropped their estimated canola yields by approximately 8.7 per cent in a report on Friday, which may have provided some stability to prices.
The Canadian dollar was steady against its U.S. counterpart Monday morning, which weighed on values.
About 2,000 canola contracts had traded as of 8:40 CDT.
Prices in Canadian dollars per metric ton at 8:40 CDT:
Price Change
Canola Nov 450.00 up 0.40
Jan 456.70 up 0.10
Mar 463.60 unch
May 469.90 up 0.60
ICE canola mostly unchanged on Monday
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