By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, April 5 (MarketsFarm) – ICE Futures canola contracts were mostly lower at midday Friday, with the largest losses in the nearby contracts as the old-new crop spreads widened out.
Losses in Chicago Board of Trade soybeans put some spillover pressure on canola. Ongoing uncertainty over Canada’s trade dispute with China also weighed on values.
However, activity was thin and choppy, with some support stemming from the lack of significant farmer selling pressure.
A steady tone in CBOT soyoil and weakness in the Canadian dollar was also supportive for crush margins, keeping domestic processors in the market on a scale-down basis.
About 14,500 canola contracts traded as of 10:50 CDT.
Prices in Canadian dollars per metric tonne at 10:50 CDT:
Price Change
Canola May 456.90 dn 1.10
Jul 464.70 dn 1.10
Nov 477.60 dn 0.60
Jan 484.10 dn 0.50
