ICE Canola Strengthens Early Friday

By Phil Franz-Warkentin, Commodity News Service Canada

WINNIPEG, Feb. 9 (CNS Canada) – ICE Futures Canada canola contracts were posting small gains Friday morning, after trading to both sides of unchanged in overnight activity.

Gains in Chicago Board of Trade soyoil futures and continued weakness in the Canadian dollar contributed to the early strength in canola.

Solid end user demand remained supportive as well, although ample old crop supplies and expectations for large planted acres this spring should be keeping the buying interest rather subdued.

Losses in CBOT soybeans and chart resistance also tempered the advances, with the most active March contract attempting to hold above the C$500 per tonne level.

About 3,500 canola contracts had traded as of 8:58 CST.

Futures Prices as of February 9, 2018

Canola
2018-02-09 08:59
Price Change
Mar 500.2 0.90
May 506.5 1.00
Jul 511.1 0.90
Nov 508.1 0.40
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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