By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Aug. 29, 2018 (CNS Canada) – ICE Futures
canola contracts were stronger Wednesday morning, as they
corrected after several days of weakness.
Chicago Board of Trade soybeans and meal contracts were all
higher, while soyoil contracts were lower.
The cold temperatures across the Prairies continued
overnight with some areas once again dipping to the 0C to 5C
range. The cold and wet weather along the southern Prairies is
holding back the canola harvest.
The Canadian dollar was slightly weaker Wednesday morning,
which was supportive for canola contracts.
The latest data from Statistics Canada is due out on
Friday. Pre-report estimates are pegging the canola crop at
18.100 million tonnes to 21.300 million tonnes, compared to last
year’s 21.319 million tonnes.
About 5,900 canola contracts had traded as of 8:53 CDT
Wednesday morning.
Prices in Canadian dollars per metric tonne at 8:53 CDT:
Price Change
Canola Nov 489.50 up 0.90
Jan 496.00 up 0.80
Mar 501.20 up 1.20
May 503.70 up 0.40
ICE canola up in morning trade
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