Published: 7 hours ago
Glacier FarmMedia — The ICE Futures canola market was lower at Friday’s close, as losses in Chicago soyoil weighed on values. Chart-based selling contributed to the declines, with prices near their lowest levels of the past month.
- May canola traded just above chart support at its 50-day moving average.
- Ongoing uncertainty over the war in the Middle East kept some caution in the agricultural futures. Crude oil saw choppy trade, with the bias lower by the afternoon.
- Large old crop supplies remained a bearish influence overhanging the canola market, although wide crush margins kept end-users showing some demand on a scale-down basis.
- Canada exported 283,500 tonnes of canola during the week ended April 5, which was up 22 per cent from the previous week, reported the Canadian Grain Commission. Crop-year-to-date exports of 5.59 million tonnes compare with 7.18 million tonnes at the same point the previous year.
- There were 67,980 contracts traded on Friday, which compares with Thursday when 71,971 contracts changed hands. Spreading accounted for 48,142 of the contracts traded.
Read Also
Canadian Financial Close: Loonie steady, crude oil declines
Glacier FarmMedia – The Canadian dollar was virtually unchanged on Friday as markets awaited U.S. and Iran peace talks to…
Access the latest futures prices at https://www.producer.com/markets-futures-prices/
Stay informed with our daily market videos. Each video quickly covers key futures moves, price trends and market signals that matter to Canadian farmers. Get clear, timely insights in just a few minutes. Bookmark https://www.producer.com/markets-futures-prices/videos
