ICE canola steady Thursday

By Marlo Glass, MarketsFarm
WINNIPEG, Sept. 5 (MarketsFarm) – The ICE Futures canola market was largely unchanged on Thursday, lacking clear direction and remaining in a consolidation pattern.
Canola values followed prices set by soybeans on the Chicago Board of Trade, which were also fairly steady. The soy complex will receive some direction from the United States Department of Agriculture (USDA) World Agriculture Supply Demand Estimates (WASDE) released next Thursday.
The potential for an early frost has kept a weather premium in the market, providing a floor for canola prices.
Harvest activity has kept a lid on values.
The Canadian dollar increased to around 75.76 cents compared to the U.S. dollar, which further pressured prices.
About 2,400 canola contracts had traded as of 8:30 CDT.
Prices in Canadian dollars per metric ton at 8:30 CDT:
Price Change
Canola Nov 445.80 dn 0.70
Jan 453.70 dn 0.80
Mar 460.90 dn 0.60
May 467.90 unch

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