ICE canola stronger Thursday

By Marlo Glass, MarketsFarm
WINNIPEG, Aug. 8 (MarketsFarm) – The ICE Futures canola market was up on Thursday morning.
Soybean prices on the Chicago Board of Trade were stronger Thursday morning, providing some optimism for canola values. Traders are starting to position themselves ahead of the United States Department of Agriculture (USDA) World Agriculture Supply Demand Estimates (WASDE), which will be released on Monday.
China remains steadfast in mostly shunning Canadian canola, though a small amount of canola seed was sold to China earlier in August.
The Canadian dollar hovered around 75 cents compared to its U.S. counterpart, keeping a lid on further gains.
About 2,800 canola contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric ton at 8:35 CDT:
Price Change
Canola Nov 452.40 up 3.20
Jan 460.40 up 2.80
Mar 466.80 up 2.70
May 473.00 up 2.50

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