ICE canola weaker Thursday morning

Reading Time: < 1 minute

Published: May 9, 2019

By Phil Franz-Warkentin, MarketsFarm

WINNIPEG, May 9 (MarketsFarm) – ICE Futures canola contracts were weaker Thursday morning, taking some direction from the Chicago Board of Trade soy complex.
Wednesday’s late retreat from earlier gains was also bearish from a technical standpoint, with follow-through speculative selling weighing on values.
The ongoing trade dispute with China, large old crop supplies, and relatively favourable Western Canadian seeding weather added to the softer tone.
However, a lack of significant farmer selling as producers focus their attention on planting provided some support.
About 2,500 canola contracts had traded as of 8:51 CDT.

Prices in Canadian dollars per metric ton at 8:51 CDT:

Price Change
Canola Jul 435.50 dn 1.90
Nov 449.00 dn 2.40
Jan 455.30 dn 2.30
Mar 461.80 dn 1.60

About the author

GFM Network News

GFM Network News

Glacier FarmMedia Feed

Glacier FarmMedia, a division of Glacier Media, is Canada's largest publisher of agricultural news in print and online.

explore

Stories from our other publications