ICE Canada Morning Comment: Canola off to a strong start

Loonie drops more than a half cent

Reading Time: < 1 minute

Published: June 11, 2020

By Glen Hallick, MarketsFarm

WINNIPEG, June 11 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were higher on Thursday morning, as the Canadian dollar was weaker.

The loonie was at 74.12 U.S. cents, compared to Wednesday’s close of 74.68.

Meanwhile losses for Chicago soyoil, European rapeseed and Malaysian palm oil weighed on values.

As some parts of the Prairies deal with wet conditions, other areas remain on the dry side.

Saskatchewan releases its weekly crop report later today. Manitoba issued its report yesterday and planting there reached 96 per cent complete.

About 4,600 canola contracts had traded as of 8:39 CDT.

Prices in Canadian dollars per metric tonne at 8:39 CDT:

Price Change
Canola Jul 469.50 up 1.70
Nov 472.80 up 1.60
Jan 479.30 up 1.80
Mar 485.30 up 2.50

About the author

GFM Network News

GFM Network News

Glacier FarmMedia Feed

Glacier FarmMedia, a division of Glacier Media, is Canada's largest publisher of agricultural news in print and online.

explore

Stories from our other publications