By Marlo Glass, MarketsFarm
WINNIPEG, Sept. 19 (MarketsFarm) – The ICE Futures canola market was weaker on Thursday, following trends set earlier in the week.
Canola prices followed trends set by Malaysian palm oil, European rapeseed, and soybeans on the Chicago Board of Trade, all of which were lower.
Last week, net sales of 1.728 million tonnes of new crop soybeans were made to China and other unknown destinations.
A strong Canadian dollar continued to weigh on values. The dollar was around 75.36 U.S. cents on Wednesday morning.
About 3,300 canola contracts had traded as of 8:30 CDT.
Prices in Canadian dollars per metric ton at 8:30 CDT:
Canola Nov 451.90 dn 0.40
Jan 460.00 dn 0.90
Mar 468.10 dn 0.90
May 475.70 dn 0.90
Futures Prices as of September 19, 2019
Prices are in Canadian dollars per metric ton