WINNIPEG – The ICE Futures canola market was posting small gains in the most active contracts Wednesday morning, recovering from overnight losses.
Early strength in Chicago Board of Trade soybeans and general weakness in the Canadian dollar contributed to the gains in canola.
Supportive chart signals also underpinned canola, as the market held above its recently-hit contract lows.
However, underlying concerns over the COVID-19 coronavirus kept some caution in the market. Losses in crude oil also weighed on values.
About 3,000 canola contracts had traded as of 8:54 CST.
Prices in Canadian dollars per metric ton at 8:54 CST:
Price Change
Canola May 462.50 up 1.60
Jul 470.90 up 1.40
Nov 479.80 unchanged
Jan 486.60 unchanged
