Glacier FarmMedia — ICE canola futures were weaker Friday morning, although activity was choppy as prices consolidated above nearby lows ahead of the weekend.
The Chinese anti-dumping duties announced earlier in the week remained a bearish influence overhanging the market. However, canola futures appear to have found some support after the initial selloff, with some bargain hunting likely from other end users.
A lack of significant farmer selling, with the bulk of the new crop canola harvest still weeks away, was also supportive.
Chicago soyoil and Malaysian palm oil futures were both higher, while European rapeseed was steady to lower.
About 17,600 canola contracts had traded as of 8:57 CDT.
Prices in Canadian dollars per metric tonne at 8:57 CDT:
Canola Nov 652.90 dn 1.60
Jan 665.50 dn 1.50
Mar 676.20 dn 1.30
May 685.20 dn 1.60
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
