By Glen Hallick, MarketsFarm
WINNIPEG, Nov. 12 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were steady Tuesday morning, after trading resumes following Remembrance Day.
Canola was getting support from stronger palm oil and European rapeseed prices.
However, the Prairie harvest has wrapped up in several regions or was very close to being finished, which has largely taken away harvest delays as a supportive factor.
Also weighing on values were improved crop conditions for soybeans in South America and faded optimism towards the United States/China trade deal.
The Canadian dollar was steady this morning at 75.60 U.S. cents, comparted Friday’s close of 75.63.
About 3,400 canola contracts had traded as of 8:44 CST.
Prices in Canadian dollars per metric ton at 8:44 CST:
Price Change
Canola Jan 463.80 up 0.50
Mar 473.20 up 0.30
May 481.50 up 0.30
Jul 488.90 up 0.50