WINNIPEG, Feb. 13 (MarketsFarm) – The ICE Futures canola market was weaker on Thursday, taking back some gains made during yesterday’s trading session.
Weakness in soyoil on the Chicago Board of Trade put pressure on canola values. European rapeseed and Malaysian palm oil were also on the defensive at the start of trade.
The Canadian dollar was relatively weaker this morning, which provided some support to prices. The dollar was around 75.46 U.S. cents on Thursday morning.
About 5,000 canola contracts had traded as of 8:30 CST.
Prices in Canadian dollars per metric ton at 8:30 CST:
Canola Mar 460.70 dn 2.80
May 469.80 dn 2.80
Jul 475.80 dn 2.80
Nov 483.50 dn 2.80
Futures Prices as of February 13, 2020
Prices are in Canadian dollars per metric ton