By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Nov. 1 (MarketsFarm) – The ICE Futures canola market was posting small losses in most months Friday morning, seeing a continuation of the downtrend that’s weighed on values over the past week.
Seasonal harvest pressure accounted for some of the weakness, as farmers delivered half-a-million tonnes of canola into the commercial pipeline in the latest weekly Canadian Grain Commission report.
However, continued harvest delays in some areas and ideas that some fields will be left to overwinter helped temper the declines.
Gains in Chicago Board of Trade soybeans and early weakness in the Canadian dollar also underpinned the canola market.
About 2,800 canola contracts had traded as of 8:46 CDT.
Prices in Canadian dollars per metric ton at 8:46 CDT:
Price Change
Canola Jan 456.50 dn 0.90
Mar 466.40 dn 0.40
May 474.60 dn 1.00
Jul 483.00 up 0.20
