ICE canola steady Thursday

By Marlo Glass, MarketsFarm
WINNIPEG, Aug. 29 (MarketsFarm) – The ICE Futures canola market traded on either side of unchanged on Thursday morning, amid light trade volume following Statistics Canada’s crop production report on Wednesday.
Canola values remained competitive against Malaysian palm oil and European rapeseed, which were lower at the start of trade.
A small weather premium remains in the market due to concerns of early frost across the Prairies.
The Canadian dollar held around 75 cents compared to the U.S. dollar, which supported canola values.
About 1,500 canola contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric ton at 8:35 CDT:
Price Change
Canola Nov 448.90 up 1.00
Jan 455.30 dn 0.50
Mar 463.00 dn 0.10
May 459.50 dn 0.20

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