By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Sept. 25 (MarketsFarm) – The ICE Futures canola market was posting small gains Wednesday morning amid persistent weather concerns across the Prairies.
Harvest operations continue to run well behind normal, with forecasts calling for frost and even snow in some areas over the next week.
A weaker tone in the Canadian dollar was also supportive, according to participants.
However, losses in the Chicago Board of Trade soy complex put some pressure on values, keeping canola in a narrow range.
Large old crop supplies and Canada’s ongoing diplomatic dispute with China also limited the advances.
About 5,000 canola contracts had traded as of 8:45 CDT.
Prices in Canadian dollars per metric ton at 8:45 CDT:
Price Change
Canola Nov 449.70 up 0.40
Jan 458.30 up 0.60
Mar 466.70 up 0.60
May 473.90 up 0.60
