By Glen Hallick, MarketsFarm
WINNIPEG, Oct. 1 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were higher Tuesday morning, as wet and cold conditions, including snow, have continued to delay the Prairie harvest.
The weather across most of the Prairies is expected to improve this week, but precipitation is in the weekend forecast.
The Canadian dollar was lower this morning at 75.26 United States cents after closing Monday at 75.51.
Improving weather in Brazil will aid that country’s soybean harvest and will weigh on canola values.
Also there could be profit-taking today after yesterday’s strong rally.
About 3,100 canola contracts had traded as of 8:41 CDT.
Prices in Canadian dollars per metric ton at 8:41 CDT:
Price Change
Canola Nov 453.40 up 2.10
Jan 462.20 up 2.00
Mar 470.50 up 2.10
May 475.50 up 0.30
