By Marlo Glass, MarketsFarm
WINNIPEG, Aug. 9 (MarketsFarm) – The ICE Futures canola market was up on Friday morning, following trends set in overnight trade.
Soybean prices on the Chicago Board of Trade were stronger Thursday morning, providing spillover support to canola values. Dry forecasts across the U.S. Midwest and Canadian Prairies have re-introduced a weather premium into markets.
The Canadian dollar hovered around 75 cents compared to its U.S. counterpart, keeping a lid on further gains.
About 5,200 canola contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric ton at 8:35 CDT:
Price Change
Canola Nov 454.90 up 2.00
Jan 462.60 up 1.80
Mar 469.30 up 1.80
May 475.50 up 1.70
ICE canola stronger Friday
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