By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, March 3 (MarketsFarm) – The ICE Futures canola market was holding onto gains Thursday morning, although activity was thin and choppy as the volatility of the past week sent some participants to the sidelines.
The ongoing conflict in Ukraine remained the key driver of the grain and oilseed markets. Wheat futures continued their rally, while the Chicago Board of Trade soy complex was showing some firmness after Wednesday’s modest losses.
The Canadian dollar was holding relatively steady in early trade, providing little direction.
Tight old crop supplies remain a supportive background influence in the canola market.
About 4,200 canola contracts had traded as of 8:44 CST.
Prices in Canadian dollars per metric ton at 8:44 CST:
Price Change
Canola May 1,064.50 up 3.20
Jul 1,039.30 up 1.20
Nov 886.50 up 2.00
Jan 886.10 up 1.20
