ICE Canola Sinks with Vegetable Oil

By Dave Sims, Commodity News Service Canada

WINNIPEG, March 7 (CNS) – Canola contracts on the ICE Futures Canada platform were lower Wednesday morning, in sympathy with vegetable oil markets.

Losses in U.S. soybeans were bearish for prices.

Canola appears to be undergoing a slight retracement in the wake of last week’s sharp gains.

There are some ideas this year’s carryout could hit 2.5 million tonnes, which undermined values.

However, concerns about drought damage to the soybean crop in Argentina buoyed prices somewhat.

The Canadian dollar was weaker Wednesday morning but seems to be regaining strength amid reports the Bank of Canada will not be hiking the interest rate.

Prices in Canadian dollars per metric ton at 9:03 CST:

Futures Prices as of March 7, 2018

2018-03-07 09:12
Price Change
May 522.8 -3.20
Jul 527 -3.50
Nov 513.2 -2.10
Jan 517.2 -2.20
Milling Wheat
1970-01-01 00:00
Price Change
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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