Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 

ICE Canola Futures Gain Strength

09/22/2021 | 10:07am EDT

WINNIPEG, Manitoba--Intercontinental Exchange ICE canola futures were higher on Wednesday morning, taking their cue from increases in Chicago soyoil, and other edible oils.

Uncertainty over this year's Prairie crop continued to remain a concern for the trade. Statistics Canada projected the 2021/22 harvest to reap about 12.8 million metric tons, but there is the likelihood of the crop coming in lower, which would intensify an already tight supply situation.

Manitoba reported late Tuesday afternoon that its harvest of major crops reached 78% finished, with spring cereals virtually complete. The combining of canola was 84% done.

Temperatures across the Prairies remain conducive for harvesting, with daytime highs to be in the mid 20 degrees Celsius expected for northern Alberta. That region is forecast to receive rain with highs in the mid-teens.

The Canadian dollar was relatively steady in the morning with the loonie at 78.07 U.S. cents, compared with Tuesday's close of 78.12.

About 2,800 canola contracts had traded as of 9:35 EDT.

Prices in Canadian dollars per metric ton at 9:35 EDT:

                 Price   Change 
Canola     Nov   870.50  up 9.90 
           Jan   864.60  up 9.70 
           Mar   855.00  up 9.80 
           May   836.90  up 7.20 

Source: Commodity News Service Canada, news@marketsfarm.com

(END) Dow Jones Newswires

09-22-21 1006ET

Latest news "Commodities"
10:24aU.S. New Home Sales Rose in September, Beating Expectations
10:20aEni to Seek Valuation of Up to $17.4 Billion for Retail, Renewables Unit IPO -Bloomberg
09:59aSibanye Stillwater agrees $1 billion deal for nickel, copper mines in Brazil
09:40aWall Street in Riyadh sees lingering inflation, oil hitting $100
09:26aOil prices edge towards new highs on short supply
09:18aTC Energy targets net-zero emissions from its operations by 2050
09:01aPRESS RELEASE : Medical Marijuana, Inc. Subsidiary Kannaway(R) Wins High Administrative Court Case to Legally Import CBD Oil in Finland
08:14a3Q GDP Seen +2.8% -- Data Week Ahead
08:10aIran says cyberattack behind widespread disruption at gas stations
08:01aICE CANADA MORNING COMMENT : Canola Easing Off
Latest news "Commodities"