ICE canola weaker Wednesday

By Marlo Glass, MarketsFarm
WINNIPEG, August 7 (MarketsFarm) – The ICE Futures canola market was weaker on Wednesday morning, remaining range-bound due to uncertainty regarding crop outlooks across North America.
The United States Department of Agriculture (USDA) World Agriculture Supply Demand Report (WASDE) will be released next Monday, which will provide some clarity to markets in regards to yield expectations.
The Canadian dollar dipped to 74.99 cents compared to its U.S. counterpart, which provided some support for canola values.
Soybean prices on the Chicago Board of Trade were on either side of unchanged, providing virtually no direction for canola prices. Soybean values have bounced back after taking another hit on Monday in the ongoing trade war between the U.S. and China.
About 2,100 canola contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric ton at 8:35 CDT:
Price Change
Canola Nov 447.10 dn 1.00
Jan 455.20 dn 1.20
Mar 462.00 dn 1.40
May 468.30 dn 1.50

---

Newsletter Sign Up - Get access to essential information on Canada’s cattle industry daily.

One email delivered 6 days a week for ranchers, feedlots, packers and livestock sales operators.

Your Email(Required)

Your Postal Code(Required)

Consent

I consent to receiving emails from Glacier FarmMedia, its affiliates and divisions and third parties, containing agriculture news, updates and promotions. I can unsubscribe at any time

Comments

This field is for validation purposes and should be left unchanged.