By Ashley Robinson, Commodity News Service Canada
WINNIPEG, MB, Sep. 20, 2018 (CNS Canada) – ICE Futures
canola contracts were lower at midday Thursday, with the
November contract still hanging above the $485 per tonne mark.
One Winnipeg-based trader pointed towards a number of
factors keeping the market down – canola is relatively high
priced compared to its counterparts, soyoil prices are fairly
weak and the Canadian dollar has been firm lately.
“(The canola prices are) starting to erode and I guess now
it hinges a lot on whether we can get the remaining harvest done
effectively and get the whole crop in this year,” he said.
Wet and cold conditions in Alberta have been supportive for
the market, as concerns continue to mount about whether farmers
will be able to get the canola crop off.
Chicago Board of Trade soybean and oil contracts were
higher after being down earlier this morning, while soymeal
contracts were lower.
About 5,600 canola contracts had traded as of 10:17 CDT.
ICE canola weakens at midday
Reading Time: < 1 minute
explore
Stories from our other publications
