By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, June 23 (MarketsFarm) – The ICE Futures canola market was narrowly mixed Tuesday morning, seeing some consolidation near the high end of its recent trading range.
Losses in Chicago Board of Trade soybeans and soyoil put some spillover pressure on the market amid conflicting reports on trade relations between the United States and China. While a White House advisor reportedly claimed the deal was over, President Donald Trump tweeted that it was still “fully intact”
A slightly firmer tone in the Canadian dollar also weighed on canola values.
Weather conditions remain mixed across the Prairies, with excessive moisture continuing to cause problems in northern Alberta, while parts of Saskatchewan and Manitoba could use some rain.
About 8,600 canola contracts had traded as of 8:48 CDT.
Prices in Canadian dollars per metric ton at 8:48 CDT:
Price Change
Canola Jul 474.90 up 0.50
Nov 476.80 dn 0.20
Jan 483.00 unchanged
Mar 488.60 up 0.20
