ICE canola higher Wednesday

By Marlo Glass, MarketsFarm
WINNIPEG, Sept. 4 (MarketsFarm) – The ICE Futures canola market was slightly higher on Wednesday, following positive trends set during overnight trade.
Canola values followed price set by soybeans on the Chicago Board of Trade, which trended slightly higher.
While no frost damage has occurred yet, delayed crop development and the potential for an early frost has kept a weather premium in the market.
Harvest activity has continued slightly behind schedule, keeping a lid on values.
The Canadian dollar held around 75 cents compared to the U.S. dollar, which further pressured prices.
About 1,400 canola contracts had traded as of 8:30 CDT.
Prices in Canadian dollars per metric ton at 8:30 CDT:
Price Change
Canola Nov 448.40 up 0.90
Jan 456.60 up 1.00
Mar 463.40 up 0.80
May 467.80 dn 1.30

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