ICE canola weaker on Thursday

By Marlo Glass, MarketsFarm
WINNIPEG, Oct. 31 (MarketsFarm) – The ICE Futures canola market was slightly lower on Thursday morning, pulled down by a lower soybean complex on the Chicago Board of Trade.
Soybeans were lower on Thursday following Chile’s cancelation of the APEC meeting, which was scheduled for Nov. 16 and 17. The United States and China were supposed to sign Phase 1 of their trade deal at the meeting. The U.S. has said they still plan to sign an agreement in November, but no meeting has been set.
Harvest pressure and farmers selling canola to commercial locations further weighed on prices.
About 2,000 canola contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric ton at 8:35 CDT:
Price Change
Canola Nov 449.90 dn 1.40
Jan 458.10 dn 1.50
Mar 467.50 dn 1.50
May 475.90 dn 1.60

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