By Glen Hallick, MarketsFarm
WINNIPEG, March 25 (MarketsFarm) – ICE Futures Canola contracts were up Monday morning, as Friday’s drop in prices has left canola prices due for a bounce, according to a report.
The May canola contract was up $4.30 to $458.20 per tonne.
Also providing support were spring road bans on the Prairies, which has limited farmers’ ability to deliver their grain to the market. And speculation farmers could be planting less canola in 2019 than in 2018.
The Canadian dollar on Monday morning was down at 74.45 U.S. cents, slipping along with crude oil prices.
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About 11,000 canola contracts had traded as of 9:55 CDT.
Prices in Canadian dollars per metric ton at 9:55 CDT:
Price Change
Canola May 458.20 up 4.30
Jul 466.80 up 4.30
Nov 478.40 up 3.60
Jan 485.60 up 4.30
