By Marlo Glass, MarketsFarm
WINNIPEG, Jan. 31 (MarketsFarm) – The ICE Futures canola market was weaker at midday Friday, weighed down by continual selloffs.
Financial markets remain jittery due to the rapidly spreading coronavirus sparking concerns of a slowdown in the global economy.
Flagging soyoil on the Chicago Board of Trade also kept pressure on canola prices. Yesterday, nearby soy oil contracts plummeted by almost eight-tenths of a U.S. cent.
About 22,000 canola contracts traded as of 10:40 CST.
Prices in Canadian dollars per metric tonne at 10:40 CST:
Price Change
Canola Mar 451.80 dn 4.60
May 461.20 dn 4.50
Jul 468.10 dn 4.30
Nov 476.60 dn 4.00
END
