Glacier FarmMedia — The ICE Futures canola market was posting small gains at midday Thursday, recovering from early losses as oversold price sentiment provided support.
Gains in Chicago soyoil and soybeans added to the firmer tone in canola, although European rapeseed was down on the day.
While tight old crop supplies remained supportive, the advancing new crop harvest tempered the gains.
The United States Department of Agriculture will release updated supply/demand estimates on Friday, with positioning ahead of the data a feature in the grains and oilseeds.
An estimated 23,800 canola contracts traded as of 10:56 CDT.
Prices in Canadian dollars per metric tonne at 10:56 CDT:
Canola Nov 630.10 up 2.00
Jan 642.60 up 1.90
Mar 654.20 up 1.80
May 664.30 up 1.40
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
