By Glen Hallick, MarketsFarm
WINNIPEG, Sept. 24 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were lower on Thursday morning, due to weakness in edible oils, particularly Chicago soyoil.
Good weather across the Prairies has spurred on the harvest, adding pressure to the market. Saskatchewan Agriculture is scheduled to release its weekly crop report this afternoon.
Support was coming from a lower Canadian dollar. The loonie was at 74.60 U.S. cents, compared to Wednesday’s close of 74.86.
About 8,700 canola contracts had traded as of 8:37 CDT.
Prices in Canadian dollars per metric tonne at 8:37 CDT:
Canola Nov 513.50 dn 6.10
Jan 520.60 dn 6.40
Mar 527.40 dn 6.50
May 530.90 dn 6.90
Futures Prices as of September 24, 2020
Prices are in Canadian dollars per metric ton