By Marlo Glass, MarketsFarm
WINNIPEG, July 18 (MarketsFarm) – The ICE Futures canola market was slightly lower on Thursday morning, in higher-than-average trade volumes.
The market was lower after a stronger day on Wednesday. Uncertain North American weather forecasts have kept a weather premium in the market. Traders are thought to be staying with a consolidation pattern until they have a better idea about crop yields.
The Canadian dollar was steady against its United States counterpart Wednesday morning, also weighing on values.
Losses in soybeans on the Chicago Board of Trade and a stall in trade negotiation between the U.S. and China also kept a lid on prices.
About 2,500 canola contracts had traded as of 8:45 CDT.
Prices in Canadian dollars per metric ton at 8:45 CDT:
Canola Nov 443.80 dn 0.30
Jan 451.30 dn 0.30
Mar 458.70 dn 0.30
May 464.50 dn 0.30
Futures Prices as of July 18, 2019
Prices are in Canadian dollars per metric ton