“Risk-off” sentiment underpins ICE canola at midday

By Phil Franz-Warkentin, MarketsFarm

WINNIPEG, Aug. 16 (MarketsFarm) – ICE Futures canola contracts were stronger at midday Friday, as traders adjusted positions ahead of the weekend in quiet trade.
“We’re getting a little bit of profit-taking and position-squaring ahead of the weekend,” said a Winnipeg-based trader noting that “risk-off” sentiment was behind much of the light activity.
Gains in the Chicago Board of Trade soy complex also provided some support.
While production uncertainty across the Prairies kept some weather premiums in the market, the looming harvest tempered the upside.
The Canadian dollar was slightly firmer at midday.
About 3,900 canola contracts traded as of 10:43 CDT.

Prices in Canadian dollars per metric tonne at 10:43 CDT:

Price Change
Canola Nov 452.90 up 1.70
Jan 460.40 up 1.50
Mar 466.10 up 0.60
May 471.30 up 0.10

Futures Prices as of August 16, 2019

Canola
Price Change
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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