By Glen Hallick, MarketsFarm
WINNIPEG, Oct. 18 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were slightly lower Friday morning, as Canadian farmers unable to resume harvesting were busy hauling canola.
Those farmers delivered 719,300 tonnes of canola into commercial positions during the week ended Oct. 13. That was not only more than double from the previous week, but was also a record amount, according to data from the Canadian Grain Commission going back to 2007.
The Prairie weather forecast has called for temperatures across the region ranging from the low to mid-teens over the next several days. There’s very little precipitation in the forecast as well, which will assist the harvest getting back on track.
The Canadian dollar was steady this morning at 76.12 U.S. cents after closing Thursday at 76.09.
About 3,100 canola contracts had traded as of 8:51 CDT.
Prices in Canadian dollars per metric ton at 8:51 CDT:
Canola Nov 456.30 dn 0.70
Jan 464.70 dn 0.70
Mar 473.70 dn 0.90
May 481.40 dn 0.80
Futures Prices as of October 18, 2019
Prices are in Canadian dollars per metric ton