ICE Canola Futures Stronger
WINNIPEG, Manitoba--ICE canola futures were posting small gains Friday morning, seeing a modest correction after declining the previous three days.
--The January contract was up 5.80 Canadian dollars at C$788.90 per ton in early activity.
--Gains in Chicago soyoil and Malaysian palm oil provided spillover support, although European rapeseed was softer on the day.
--Canadian farmers delivered 445,900 tons of canola into the commercial pipeline during the week ended Oct. 25, reported the Canadian Grain Commission. That was down 13% from the previous week. However, crop-year-to-date deliveries of 5.4 million tons are up 33% from the same time a year earlier.
--Weekly canola exports came in at 238,000 tons, which compares with 215,100 tons the previous week and took the year-to-date total to 1.9 million tons. That compares with 1.2 million tons through 12 weeks during the previous marketing year.
--About 17,800 canola contracts had traded as of 9:33 a.m. EDT.
Prices in Canadian dollars per metric ton at 9:33 a.m. EDT:
Price Change Nov 778.70 up 7.00 Jan 788.90 up 5.80 Mar 800.20 up 5.30 May 808.10 up 5.10
Source: Glacier FarmMedia, [email protected]
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