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ICE canola futures rise

WINNIPEG, (Manitoba): ICE canola futures rose on Wednesday, lifted by crusher buying. Statistics Canada reported ...
Published September 10, 2021
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WINNIPEG, (Manitoba): ICE canola futures rose on Wednesday, lifted by crusher buying.

Statistics Canada reported 1.8 million tonnes of total canola stocks as of July 31, 2021 - much higher than the average trade expectation of 1.2 million.

StatsCan had to produce a higher stocks number, based on its March 31 stocks estimate and subsequent deliveries, which would have resulted in negative on-farm stocks without an adjustment, said StoneX risk management consultant Uros Vukov.

November canola gained $1.40 at $881.50 per tonne. The contract’s gain was only its second in nine sessions.

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ICE canola futures rise

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