ICE Close: Canola Rallies at End of Trading

Canola futures finished little changed on Wednesday, rallying off of lows earlier in the day,

Gains in Chicago soybean futures and and bargain hunting in canola provided much of the support.

On the other hand, continuing tensions between Canada and China, which has resulted in weaker export demand and the potential for heavier 2018-19 canola ending stocks, weighed on values. Strength in the Canadian dollar, with the loonie pushing above 75 cents US by midday, added to the pressure.

May and July canola were both steady at $458.30 and $467.10, while new-crop November added 20 cents to $480.80.

Source: DePutter Publishing Ltd.

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