ICE canola gains strength on Tuesday

By Marlo Glass, MarketsFarm
WINNIPEG, Aug. 20 (MarketsFarm) – The ICE Futures canola market was mostly higher on Tuesday morning, following trends set in overnight trade.
Canola values found support from the soybean complex on the Chicago Board of Trade, which were bolstered by positive trade talks between the United States and China.
A weather premium remains in the market due to concerns of frost during harvest.
The Canadian dollar remained around 75 cents compared to its U.S. counterpart, which kept a lid on values.
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 Nov 453.30 up 3.00
Jan 460.50 up 2.70
Mar 467.20 up 2.90
May 472.70 up 2.90

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