By Marlo Glass, MarketsFarm
WINNIPEG, Sept. 18 (MarketsFarm) – The ICE Futures canola market was slightly weaker on Wednesday, following trends set during overnight trade.
Canola prices followed trends set by soybeans on the Chicago Board of Trade, which were also lower.
The USDA has reported soybean sales to China have totaled 720,000 tonnes in the past week, higher than the 600,000 tonnes promised as a gesture of goodwill last week.
A slightly stronger Canadian dollar weighed on values. The dollar was around 75.48 U.S. cents on Wednesday morning.
Continued harvest activity has also kept pressure on prices.
About 2,400 canola contracts had traded as of 8:30 CDT.
Prices in Canadian dollars per metric ton at 8:30 CDT:
Price Change
Canola Nov 451.80 dn 0.90
Jan 460.20 dn 0.70
Mar 468.00 dn 1.10
May 474.60 dn 0.90