ICE Canola Weaker Wednesday Morning

The ICE Futures canola market was weaker Wednesday morning, seeing some follow-through selling after Tuesday's late turn lower.

Speculative positioning was a feature, with the underlying fundamentals still supportive for canola.

Scattered thunderstorm activity was bringing moisture to some dry areas of the Prairies, although the forecasts remain hot and dry overall with any moisture at this stage unlikely to do much to help drought-stricken crops.

The Chicago Board of Trade soy complex was holding near unchanged in early activity, providing little direction for canola.

About 3,900 canola contracts had traded as of 9:51 ET.

     Prices in Canadian dollars per metric ton at 9:51 ET:

                          Price      Change

Canola            Nov     885.50     dn  8.90

                  Jan     869.70     dn  9.80

                  Mar     850.90     dn 11.20

                  May     830.20     dn 11.80

  (END) Dow Jones Newswires
  07-28-21 1026ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

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