Howard Leaman Mch 20/19
Canola traded on both sides of unchanged on Wednesday, ending mixed.
The nearby contract ended with small gains, while deferred positions,
starting with the March 2020 contract were settled slightly lower. Traders
appeared to be taking a wait-and-see stance given uncertainty surrounding
Canadian canola and U.S. soy sales to China and the upcoming North American
growing season. Political considerations continue to restrict Chinese
Spillover buying from European rapeseed and palm oil, combined with a
soft tone in the Canadian dollar against the U.S. dollar provided
underlying support to canola, but the buying was limited by only a steady
tone in the soy complex. In addition, the Canadian dollar retraced its
losses later in the day to move back above $.75 U.S.
May Canola 466.80 454.00
Jly Canola 454.00 462.40
Get your local Cash Bids emailed to you each morning from DTN – click here
to sign up for DTN Snapshot.