ICE canola weaker on Thursday

By Marlo Glass, MarketsFarm
WINNIPEG, Nov. 14 (MarketsFarm) – The ICE Futures canola market was weaker on Thursday morning. Canola prices were hampered by a lower tone for soybeans on the Chicago Board of Trade.
Harvest activity also weighed on values. Canola in Manitoba is 94 per cent harvested. Alberta and Saskatchewan are also nearly finished, with some crops likely to be left in the fields over winter.
However, canola values were supported by a slightly weaker Canadian dollar. The dollar dropped by a tenth of a cent this morning to land at 75.39 U.S. cents.
About 1,800 canola contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric ton at 8:35 CDT:
Price Change
Canola Jan 461.70 dn 0.20
Mar 470.60 dn 0.70
May 479.20 dn 0.90
Jul 487.60 dn 0.20

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