ICE Canola Futures Stronger Thursday Morning

WINNIPEG, Manitoba--The ICE Futures canola market was stronger Thursday morning after trading to both sides of unchanged in overnight activity.

Canada's drought-stricken crop remained supportive, with many in the industry anticipating actual production will end up below the already small 12.8 million metric tons forecast by Statistics Canada earlier in the week.

Gains in Chicago Board of Trade soybeans provided some spillover support for canola as well, although soyoil was softer in early activity.

Canola remains overpriced compared to other oilseeds, with soft crush margins keeping a lid on the upside.

About 2,500 canola contracts had traded as of 9:36 EDT.

Prices in Canadian dollars per metric ton at 9:36 EDT:

                          Price      Change
Canola            Nov     883.20     up  3.40
                  Jan     874.60     up  2.80
                  Mar     861.70     up  3.10
                  May     844.70     up  3.10

Source: Commodity News Service Canada,

  (END) Dow Jones Newswires
  09-16-21 1008ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.