Log in
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 Midday : Canola Back in the Green After Thursday's Losses

06/18/2021 | 12:34pm EDT

WINNIPEG--The ICE Futures canola market is rebounding at midday Friday after suffering limit-down losses on Thursday, forcing ICE canola contract limits to be expanded from C$30 per metric ton to C$45.

While the July canola contract has held mostly steady, new crop contracts are rising by nearly C$30/MT. A Winnipeg-based trader said a combination of factors caused Thursday's speculative profit-taking and canola is now undergoing a "rebalancing act."

"We're getting some buying coming in. Yesterday, the markets looked pretty scary. They were in real trouble. But this morning, everyone's looking at it as a buying opportunity. So, some of the spec money is coming back in," the trader explained.

The Chicago soy complex also strengthened in concert with canola, with soybean contracts moving up 50 cents per bushel.

The Canadian dollar weakened by 0.6 of a cent at midday.

Nearly 16,900 contracts were traded as of 11:58 a.m. EDT.

                  Price    Change 
Canola      Jul  779.50  dn  7.60 
            Nov  694.10  up 27.70 
            Jan  694.90  up 27.00 
            Mar  692.50  up 27.20 

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

(END) Dow Jones Newswires

06-18-21 1233ET

Latest news "Commodities"
09:31aSibanye-Stillwater Says 1st Half Net Profit, EPS More-Than Doubled
09:24aCorn Export Sales Higher Than Expectations
08:38aHINDUSTAN PETROLEUM : India HPCL's high sulphur oil imports to rise after refinery upgrade
08:21aOil rises on Mideast tensions but virus concerns weigh
08:07aGold steadies as dollar eases; Fed tapering fears limit gains
07:42aDuke Energy Swings to Profit in 2Q, Beating Analyst Views
06:48aTITAN : India's July gold imports surge 131% to 3-month high - govt source
06:46aUK gold miner Centamin seeks buyer for W. African project
06:26aCanadian Natural profit beats estimates on crude price rebound
05:20aGold steadies as dollar eases; Fed tapering fears limit gains
Latest news "Commodities"