By Glen Hallick, Commodity News Service Canada
WINNIPEG, Feb. 15 (CNS Canada) – ICE Futures canola contracts were slightly weaker so far Friday morning with bearish technical signals weighing on prices.
Soyoil futures on the Chicago Board of Trade were posting small losses, putting pressure on canola. However, soybeans were up providing some support for canola
Trade talks between the United States and China wrapped up Friday in Beijing. Although high-level negotiators failed to reach a final deal, they made some progress on key issues and will resume talks next week in Washington, D.C.
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On Monday, Feb. 18 canola markets will be closed for Louis Riel Day and the U.S. markets will be closed Monday for Presidents’ Day.
The Canadian dollar was trading higher Friday morning at 75.37 U.S. cents.
About 7,900 canola contracts had traded as of 8:54 CST.
Prices in Canadian dollars per metric ton at 8:54 CST:
Price Change
Canola Mar 477.10 dn 1.60
May 485.40 dn 1.80
Jul 493.00 dn 1.80
Nov 494.80 dn 1.80
