Glacier FarmMedia – Canola futures on the Intercontinental Exchange were negative in the middle of Friday trading with the Chicago soy complex pulling back.
Although Chicago soyoil was down slightly, an analyst said any time its value is between 60 to 65 U.S. cents per pound is “a bonus.” European rapeseed was mixed and Malaysian palm oil was higher. Crude oil rose by more than US$1 per barrel amid tensions between the U.S. and Iran, as the two countries ended their nuclear talks ahead of the weekend without a deal.
Read Also
ICE Canada Morning Comment: China announces expected tariff move
By Glen Hallick Glacier FarmMedia – Canola futures on the Intercontinental Exchange turned around to pull back on Friday morning,…
China announced on Friday it will suspend tariffs on some Canadian goods, including those for Canadian canola meal, beginning March 1. China’s duty on Canadian canola will be reduced to 15 per cent as well that day.
The Canadian Grain Commission reported 243,600 tonnes were exported during the week ended Feb. 22, down from the 257,100 shipped the previous week. So far this marketing year, canola exports totalled 4.269 million tonnes, compared to 6.021 million one year ago.
About 33,700 canola contracts have traded at 10:11 CST. Prices in Canadian dollars per metric tonne:
Price Change
May 688.80 dn 4.20
Jul 699.40 dn 4.20
Nov 694.00 dn 3.90
Jan 701.50 dn 3.60
To access the latest futures prices, go to 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
