By Marlo Glass, MarketsFarm
WINNIPEG, Sept. 27 (MarketsFarm) – The ICE Futures canola market was lower at midday Thursday, following trends set earlier in the week.
Canola values remained weighed down by lower soybean values on the Chicago Board of Trade. Soyoil and soymeal values have been trending lower, and canola values have remained competitive.
A comparatively stronger Canadian dollar has also weighed on values. The dollar is currently around 75.44 U.S. cents.
Challenging harvest conditions and delayed progress have yet to provide a boost to canola prices. One stalwart trader characterized the weather across Western Canada as “almost the worst [he’s] ever seen.”
About 11,800 canola contracts traded as of 11:00 CDT.
Prices in Canadian dollars per metric tonne at 11:00 CDT:
Price Change
Canola Nov 447.60 dn 2.00
Jan 454.20 dn 2.40
Mar 462.40 dn 2.60
May 469.50 dn 2.80
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