ICE Canada Morning Comment: Canola slightly lower

By Glen Hallick

Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were easing back on Thursday morning, in light of mixed support from comparable oils.

There were gains in the Chicago soy complex and Malaysian palm oil but declines in European rapeseed. Crude oil was lower as well, putting pressure on the vegetable oils.

As harvest pressure continues to build, the Prairie weather forecast called for temperatures in the low to mid 20 degrees Celsius, with rain for parts of Saskatchewan and Manitoba.

The Canadian dollar was virtually unchanged on Thursday morning, with the loonie at 72.16 U.S. cents.

Approximately 9,500 contracts were traded by 8:34 CDT and prices in Canadian dollars per metric tonne were:     

                          Price      Change

Canola            Nov     627.00     dn  1.10

                  Jan     639.20     dn  1.50

                  Mar     650.90     dn  1.50

                  May     661.00     dn  1.90

To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/

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