By Glen Hallick, MarketsFarm
WINNIPEG, Feb. 26 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were steady to higher Wednesday morning, coming off of losses due to the coronavirus weighing on the markets.
Declines in Chicago soyoil, European rapeseed and Malaysian palm oil are weighing on values.
Blockades in support of the Wet’suwet’en heredity chiefs continue to pop up in different parts of Canada. Delays to rail traffic are lurking in the background and could affect prices.
The Canadian dollar was steady this morning at 75.24 U.S. cents after closing Tuesday at 75.30.
About 6,600 canola contracts had traded as of 8:49 CST.
Prices in Canadian dollars per metric ton at 8:49 CST:
Canola Mar 449.10 up 1.30
May 457.00 up 0.70
Jul 464.50 up 1.20
Nov 475.00 up 1.30
Futures Prices as of February 26, 2020
Prices are in Canadian dollars per metric ton