By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Sept. 27 (MarketsFarm) – The ICE Futures canola market was posting small losses Friday morning in light volumes.
Early declines in Chicago Board of Trade soybeans and soyoil accounted for some spillover selling.
Large old crop supplies, seasonal harvest pressure, a firmer tone in the Canadian dollar, and Canada’s ongoing diplomatic dispute with China also weighed on prices.
However, adverse weather conditions across Western Canada provided underlying support, with forecasts calling for winter weather and even snow in parts of the southern Prairies over the weekend.
About 2,400 canola contracts had traded as of 8:48 CDT.
Prices in Canadian dollars per metric ton at 8:48 CDT:
Price Change
Canola Nov 446.90 dn 0.70
Jan 455.90 dn 0.70
Mar 463.80 dn 1.20
May 470.90 dn 1.40
