By Glen Hallick, MarketsFarm
WINNIPEG, Aug. 21 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were either side of steady on Friday morning, getting support from a slightly lower Canadian dollar.
The Canadian dollar was at 75.63 U.S. cents, compared to Thursday’s close of 75.79.
There was also support from European rapeseed and Malaysian palm oil. A slight weakness in Chicago soyoil weighed on values.
The hot weather across the southern Prairies will continue today, but with temperatures in the high 20’s to low 30’s C. Temperatures pushing into the mid 20’s were forecast for the northern Prairies.
Saskatchewan Agriculture reported yesterday that a small portion of canola has been harvested in the province’s southwest corner. Swathing was beginning in several parts of Saskatchewan.
The Canadian Grain Commission reported that producer deliveries of canola for the week ended Aug. 16 came to 326,300 tonnes. Canola exports amounted to 161,100 tonnes and domestic usage was 180,300 tonnes.
About 4,500 canola contracts had traded as of 8:46 CDT.
Prices in Canadian dollars per metric tonne at 8:46 CDT:
Price Change
Canola Nov 483.60 up 0.60
Jan 491.60 up 0.70
Mar 496.30 dn 0.20
May 502.80 up 1.10
