By Glen Hallick, MarketsFarm
WINNIPEG, March 5 (MarketsFarm) – ICE Futures canola contracts were lower on Thursday due to weakness in Chicago soyoil and European rapeseed.
Fears over the COVID-19 coronavirus severely eroding demand also had the stock markets down, commented a Winnipeg-based trader.
A lack of China buying soybeans and other agricultural goods from the United States has also weighed on values.
There was some support from higher Malaysian palm oil values.
So far today, the Canadian dollar was slightly lower at 74.59 U.S. cents, compared to Wednesday’s close of 74.67.
Approximately 5,300 canola contracts were traded as of 10:33 CST.
Prices in Canadian dollars per metric tonne at 10:33 CST:
Price Change
Canola May 463.70 dn 3.20
Jul 471.60 dn 3.40
Nov 480.20 dn 3.70
Jan 486.60 dn 3.70
