ICE canola rises with currency issues

By Dave Sims, Commodity News Service Canada

WINNIPEG, September 4 (CNS) – Contracts on the ICE Futures canola platform were mostly higher Tuesday morning, propped up by weakness in the Canadian currency.

Gains in soyoil were bullish for the market.

Recent rains have delayed harvest in parts of Western Canada.

Friday’s crop production report from Statistics Canada pegged the 2018/19 crop at 19.2 million tonnes, which was below what traders were expecting. This continued to cast a supportive light on futures.

However, losses in soybeans put downward pressure on canola.

Crush margins remain weak and the front-month November contract was feeling some technical resistance.

Prices in Canadian dollars per metric ton at 8:55 CDT:

Futures Prices as of September 4, 2018

Canola
2018-09-04 09:04
Price Change
Nov 498.4 2.80
Jan 505.3 2.80
Mar 509.6 2.80
May 512.4 2.90
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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