By Glen Hallick, MarketsFarm
WINNIPEG, June 27 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were stronger Thursday morning, with light volumes of activity.
There still remains something of a weather premium for canola, which has been supportive of values. Also, there has been speculation that bids are due for a bounce.
Although Canadian Prime Minister Justin Trudeau won’t have a one-on-one meeting with Chinese President Xi Jinping at the G20 Summit that starts tomorrow in Japan, it’s expected that United States President Donald Trump will raise Canada’s concerns with China at his meeting with Xi.
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ICE Canola Midday: Prices suddenly turn lower
By Glen Hallick Glacier Farm Media | MarketsFarm – Intercontinental Exchange canola futures were falling back late Friday morning, after…
The Prairie weather forecast has called for more rain in parts of Alberta and Saskatchewan today, particularly around the Edmonton area. The rain has been beneficial to thirsty crops, but has weighed on values.
Despite the amount of canola acres dropping to just short of 21.0 million, the amount of acres was on the high side.
The Canadian dollar has remained above 76 U.S. cents this morning at 76.14.
About 1,900 canola contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric ton at 8:35 CDT:
Price Change
Canola Jul 443.00 up 2.20
Nov 456.50 up 2.70
Jan 463.80 up 2.80
Mar 470.50 up 2.80
