By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, March 13 (MarketsFarm) – The ICE Futures canola market was holding onto small gains Friday morning, although activity was thin and choppy as the market took a bit of a breather after Thursday’s sharp declines.
Chicago Board of Trade soybeans and soyoil were also firmer in early trade, providing some spillover support.
Ongoing concerns over the COVID-19 coronavirus remained a bearish influence on the market, as the uncertainty over global travel bans and efforts to slow the spread of the disease kept world equity and commodity markets on edge.
The Canadian dollar was posting small gains relative to its United States counterpart, although the currency has weakened sharply over the past week.
About 7,000 canola contracts had traded as of 8:47 CST.
Prices in Canadian dollars per metric ton at 8:47 CST:
Price Change
Canola May 452.20 up 1.20
Jul 460.00 up 0.70
Nov 469.40 up 0.80
Jan 476.20 up 0.90
