ICE canola stronger Friday

By Marlo Glass, MarketsFarm
WINNIPEG, August 2 (MarketsFarm) – The ICE Futures canola market was stronger on Friday morning, correcting higher after a week of lows.
The Canadian dollar dipped to 75.39 U.S. cents on Thursday morning, which supported values.
Experts expect the Canadian canola crop to be around 19 million tonnes, with yields around 39.9 bushels per acre. Last year’s crop came in at 20.3 bushels per acre.
Strength in the Chicago Board of Trade soy complex also helped to boost canola prices. United States President Donald Trump has accused China of devaluing the U.S. dollar, which is the latest accusation in a heated trade war between the two countries.
About 2,800 canola contracts had traded as of 8:45 CDT.
Prices in Canadian dollars per metric ton at 8:45 CDT:
Price Change
Canola Nov 444.60 up 2.60
Jan 452.40 up 2.60
Mar 459.60 up 2.90
May 467.10 up 4.20

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