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ICE canola stronger Thursday

By Marlo Glass, MarketsFarm
WINNIPEG, Aug. 22 (MarketsFarm) – The ICE Futures canola market was slightly stronger on Thursday morning.
Canola values found support from soybean prices on the Chicago Board of Trade. Soybeans got a boost due to reports from the Pro Farmer crop tour, which estimated an average of 997.68 pods in 3-by-3 foot squares, compared to 1,328.91 pods last year.
Malaysian palm oil futures also jumped to a six-month high, thanks to reduced production.
Lingering concerns of frost across the Canadian Prairies have kept a weather premium in the market, supporting prices.
The Canadian dollar remained around 75 cents compared to its U.S. counterpart, which kept a lid on values.
About 1,900 canola contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric ton at 8:35 CDT:
Price Change
Canola Nov 454.50 up 1.40
Jan 461.80 up 1.30
Mar 468.30 up 1.50
May 473.80 up 1.50

Commodity Future Prices

Canola
Price Change

Prices are in Canadian dollars per metric ton

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