ICE canola narrowly mixed Thursday morning

By Phil Franz-Warkentin, MarketsFarm

WINNIPEG (MarketsFarm) – ICE Futures canola contracts were narrowly mixed Thursday morning in thin and choppy activity, as the market continues to consolidate right above major support.
Solid buying came forward late in the day on Wednesday, which was seen as a sign that a low may be in for the time being, according to participants.
End-user bargain hunting and early weakness in the Canadian dollar also provided some underlying support for canola.
However, soyoil futures at the Chicago Board of Trade were softer to start the day.
Large canola supplies and concerns over a burdensome carryout heading into the 2019/20 crop year also pressured values, with the new crop November contract posting small losses.
About 6,200 canola contracts had traded as of 8:51 CDT.

Prices in Canadian dollars per metric ton at 8:51 CDT:

Price Change
Canola Mar 459.10 up 0.80
May 467.50 up 0.40
Jul 480.20 dn 0.60
Nov 487.00 up 0.30

Futures Prices as of March 14, 2019

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

explore

Stories from our other publications