By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, April 24 (MarketsFarm) – The ICE Futures canola market was posting small losses in most months Friday morning, in thin trade as investors squared positions ahead of the weekend.
A softer tone in the Chicago Board of Trade soy complex put some spillover pressure on canola, while the Canadian dollar was steady after moving higher on Thursday.
Supportive chart signals kept canola underpinned, amid ideas that the lows may be in for the time being.
Spring harvest operations are underway in parts of Western Canada, as producers clean up fields that were left to overwinter due to the poor fall weather.
About 2,000 canola contracts had traded as of 8:43 CDT.
Prices in Canadian dollars per metric ton at 8:43 CDT:
Price Change
Canola May 456.60 dn 0.40
Jul 461.30 dn 0.40
Nov 470.00 dn 0.20
Jan 476.40 dn 0.20
