ICE Close: Canola Loses Direction

Canola futures finished on both sides of unchanged on Thursday, lacking direction after bouncing back from losses earlier in the session.

Declines in Chicago soyoil weighed on values, but gains in European rapeseed provided support.

Canadian Indigenous Services Minister Marc Miller and British Columbia Premier John Horgan announced Thursday that they will meet with Indigenous groups who have been impeding rail traffic. Hopes are to resolve issues pertaining to the ongoing demonstrations across Canada. The demonstrations have been in support of the Wet’suwet’en heredity chiefs, who are opposed to the new Coastal GasLink pipeline crossing Wet’suwet’en traditional territory in B.C.

March canola ended 40 cents higher at $463.80, May was steady at $472.60 and new-crop November was unchanged at $486.

Source: DePutter Publishing Ltd.

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