ICE canola weaker Tuesday

By Marlo Glass, MarketsFarm
WINNIPEG, July 30 (MarketsFarm) – The ICE Futures canola market was slightly lower on Tuesday morning, remaining range-bound until markets get a clearer picture of the size of this year’s crops.
Improved weather forecasts across the Prairies have boosted crop conditions recently, weighing on canola values.
The Canadian dollar slipped to 75.85 U.S. cents on Tuesday morning, which provided some support.
Weakness in soybean prices on the Chicago Board of Trade also dragged on values, as there is no end in sight to the trade war between the United States and China.
About 1,700 canola contracts had traded as of 8:40 CDT.
Prices in Canadian dollars per metric ton at 8:40 CDT:
Price Change
Canola Nov 447.50 dn 1.90
Jan 455.20 dn 1.90
Mar 462.20 dn 2.10
May 467.60 dn 2.20

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