By Marlo Glass, MarketsFarm
WINNIPEG, Dec. 12 (MarketsFarm) – The ICE Futures canola market was stronger on Thursday morning, recovering slightly from losses incurred the day before.
Gains in the canola market were tempered by a lower tone for soybeans on the Chicago Board of Trade. Soybeans were lower despite strong export demand. According to the United States Department of Agriculture, last week, soybean export sales were 54 per cent higher than the week prior.
A relatively stronger Canadian dollar also pressured canola values. The dollar was around 75.82 U.S. cents on Thursday morning.
About 5,000 canola contracts had traded as of 8:35 CST.
Prices in Canadian dollars per metric ton at 8:35 CST:
Canola Jan 455.70 up 2.20
Mar 464.80 up 2.10
May 472.90 up 2.20
Jul 479.20 up 2.60
Futures Prices as of December 12, 2019
Prices are in Canadian dollars per metric ton