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ICE canola correcting lower

By Phil Franz-Warkentin, Commodity News Service Canada

WINNIPEG, Dec. 7 (CNS Canada) – ICE Futures canola contracts were weaker at midday Friday, taking back most of Thursday’s gains as strength in the Canadian dollar weighed on values.
The currency was up by roughly half of a cent relative to its United States counterpart, which cuts into crush margins.
Ample supplies in the commercial pipeline also kept canola under pressure. Farmers delivered 405,300 tonnes of canola during the week ended Dec. 2, while exporters only moved 99,800 tonnes offshore, according to the latest Canadian Grain Commission report.
However, gains in Chicago Board of Trade soybeans provided some spillover support.
About 18,500 canola contracts traded as of 10:53 CST.

Futures Prices as of December 7, 2018

Canola
2018-12-07 10:59
Price Change
Jan 484.3 -1.80
Mar 491.5 -1.80
May 499 -2.00
Jul 503.3 -3.10
Milling Wheat
1970-01-01 00:00
Price Change
Durum
1970-01-01 00:00
Price Change
New Barley
1970-01-01 00:00
Price Change

Prices are in Canadian dollars per metric ton

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