By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Oct. 16 (MarketsFarm) – The ICE Futures canola market was posting small gains Wednesday morning in thin and choppy activity.
Roughly 20 per cent of Manitoba’s canola crop was still unharvested before the province was hit with a severe winter storm over the past weekend, according the latest weekly crop report from Manitoba Agriculture. Harvest operations also continue to run well behind normal in Saskatchewan and Alberta.
The Chicago Board of Trade soy complex provided little direction, with soybeans narrowly mixed and soyoil slightly softer in early activity.
The Canadian dollar was holding steady in early activity.
About 5,500 canola contracts had traded as of 8:52 CDT, with the November/January spread a feature of the activity as participants rolled their positions out of the front month.
Prices in Canadian dollars per metric ton at 8:52 CDT:
Price Change
Canola Nov 462.00 up 0.60
Jan 470.30 up 0.10
Mar 479.60 up 0.60
May 486.80 up 0.30
