ICE canola steady Thursday

ICE canola steady Thursday
By Marlo Glass, MarketsFarm
WINNIPEG, August 1 (MarketsFarm) – The ICE Futures canola market was mostly unchanged on Thursday morning, following quiet activity in overnight trading.
The Canadian dollar dipped to 75.57 U.S. cents on Thursday morning, which supported values.
The Federal Reserve cut its key interest rate by 25 basis points on Wednesday, which contributed to a stronger U.S. dollar.
Soy oil prices are steady thanks to firmness in European rapeseed and palm oil, providing some support to canola.
Today is the first day of the 2019/2020 marketing year.
About 2,500 canola contracts had traded as of 8:45 CDT.
Prices in Canadian dollars per metric ton at 8:45 CDT:
Price Change
Canola Nov 447.20 dn 0.50
Jan 454.50 dn 0.90
Mar 462.00 dn 0.60
May 467.30 dn 0.20

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