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ICE Canada Morning Comment: Another Round of Being Down

06/16/2021 | 08:04am EDT

WINNIPEG--Intercontinental Exchange canola futures continued to pull back on Wednesday morning, generating so far the fourth consecutive day of losses in the old and new crop contracts.

There were declines in Chicago soybeans and soyoil, while soymeal made modest increases. European rapeseed and Malaysian palm oil were lower as well.

Canola across the Prairies was still benefiting from recent rains, but hot, dry weather remains in the forecast for the next day or two.

The Manitoba weekly crop report noted Tuesday that flea beetles have been a problem for canola province-wide this spring, with some reseeding being necessary. Canola not reseeded ranged from emerging to leafing, depending on when it was planted.

The Canadian dollar was virtually unchanged Wednesday morning, with the loonie at 82.04 compared with Tuesday's close of 82.05.

About 2,800 canola contracts had traded as of 9:35 a.m. ET.

Prices in Canadian dollars per metric tonne at 9:35 a.m. ET:

      Price  Change 
  Jul 821.90 dn 24.00 
  Nov 708.40 dn 15.80 
  Jan 708.60 dn 17.10 
  Mar 707.00 dn 16.00 

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

(END) Dow Jones Newswires

06-16-21 1004ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) -0.10% 0.91428 Delayed Quote.-5.88%
BRITISH POUND / CANADIAN DOLLAR (GBP/CAD) -0.02% 1.73345 Delayed Quote.0.02%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) 0.08% 87.958 Delayed Quote.8.35%
CANADIAN DOLLAR / SWISS FRANC (CAD/CHF) 0.04% 0.72545 Delayed Quote.4.74%
CRUDE PALM OIL -0.08% 968.75 End-of-day quote.14.36%
DJ INDUSTRIAL -0.42% 34935.47 Delayed Quote.14.63%
EURO / CANADIAN DOLLAR (EUR/CAD) -0.07% 1.47903 Delayed Quote.-4.73%
INTERCONTINENTAL EXCHANGE, INC. -0.82% 119.83 Delayed Quote.3.94%
LONDON BRENT OIL -0.82% 75.16 Delayed Quote.46.69%
NEW ZEALAND DOLLAR / CANADIAN DOLLAR (NZD/CAD) -0.32% 0.86983 Delayed Quote.-4.45%
S&P GSCI SOY BEANS INDEX -2.03% 535.6818 Delayed Quote.5.05%
SOYBEAN MEAL FUTURES (ZM) - CBE (ELECTRONIC)/C1 -1.09% 352.6 End-of-day quote.-17.93%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) -0.06% 1.2463 Delayed Quote.-2.19%
WTI 0.53% 73.659 Delayed Quote.52.09%
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