ICE canola continues lower, testing support

WINNIPEG – The ICE Futures canola market was weaker Thursday morning, testing nearby support as speculators continued to liquidate long positions and book profits.
The November contract dipped below the 20-day moving average, which was bearish from a chart-standpoint. A firm tone in the Canadian dollar, which moved above 80 United States cents, also weighed on values.
However, gains in the Chicago Board of Trade soy complex provided some underlying support.
Persistent hot and dry Prairie weather also remained supportive, although drought concerns may be priced into the futures for the time being.
About 3,400 canola contracts had traded as of 8:49 CDT.

Prices in Canadian dollars per metric ton at 8:49 CDT:

Price Change
Canola Nov 872.90 dn 10.10
Jan 860.40 dn 8.80
Mar 846.40 dn 8.40
May 826.50 dn 8.20

Futures Prices as of July 29, 2021

Canola
Price Change
Milling Wheat
1970-01-01 00:00
Price Change
Durum
1970-01-01 00:00
Price Change
New Barley
1970-01-01 00:00
Price Change

Prices are in Canadian dollars per metric ton

About the author

Glacier FarmMedia Feed

GFM Network News

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

Comments

explore

Stories from our other publications