Glacier FarmMedia — ICE canola futures were holding onto small gains Tuesday morning, seeing a modest correction after hitting its weakest levels in two months on Monday.
• Oversold price sentiment, end user bargain hunting and a lack of significant farmer selling pressure were supportive.
• The United States Department of Agriculture will release its latest World Agriculture Supply and Demand Estimates (WASDE) report at 11:00 a.m. CST, with any surprises in the data likely to provide direction for the futures. Pre-report expectations are for an increase in expected U.S. soybean ending stocks from the last report.
Read Also
North American Grain and Oilseed Review: Canola closes higher
By Glen Hallick, MarketsFarm Glacier FarmMedia MarketsFarm – Intercontinental Exchange canola futures found strength on Tuesday, turning around after a…
• Chicago soybeans were weaker in early activity while soyoil traded near unchanged. European rapeseed and Malaysian palm oil were also lower.
• The Canadian dollar was stronger relative to its U.S. counterpart in early activity.
About 23,300 canola contracts had traded as of 8:42 CST.
Prices in Canadian dollars per metric tonne at 8:42 CST:
Canola Jan 614.70 up 1.00
Mar 627.50 up 1.40
May 640.10 up 1.40
Jul 649.00 up 1.60
Access the latest futures prices at https://www.producer.com/markets-futures-prices/
Stay informed with our daily market videos. Each video quickly covers key futures moves, price trends and market signals that matter to Canadian farmers. Get clear, timely insights in just a few minutes. Bookmark https://www.producer.com/markets-futures-prices/videos
