Glacier FarmMedia COVID-19 & the Farm

ICE canola posting losses at midday

By Phil Franz-Warkentin, MarketsFarm

WINNIPEG, May 3 (MarketsFarm) – The ICE Futures canola market was weaker at midday Monday, retreating from overnight gains after running into resistance at new contract highs.
Chicago Board of Trade soybeans also backed away from overnight gains to post losses at midsession, while soyoil was mixed.
Tight old crop supplies and uncertainty over new crop production remained supportive for canola.
However, those concerns have been priced into the market for some time and overbought price sentiment put some pressure on values.
Recent strength in the Canadian dollar, which remained near three-year highs relative to its United States counterpart, also weighed on canola prices.
About 17,300 canola contracts traded as of 10:41 CDT.

Prices in Canadian dollars per metric tonne at 10:41 CDT:

Price Change
Canola Jul 852.70 dn 16.00
Nov 700.50 dn 9.70
Jan 696.50 dn 10.20
Mar 692.60 dn 10.90

Commodity Future Prices

Canola
Price Change

Prices are in Canadian dollars per metric ton

COPA Medallion COPA finalist in 2012, 2014 and 2015.
©2021 AGCanada is a production of Glacier FarmMedia Limited Partnership. Any affiliated or third party content is the property of its respective owner and is used with permission.
Please refer to Copyright Page for details.
Click here to view our Website Terms of Use.