WINNIPEG, Dec. 16 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Thursday morning getting spillover from strong upticks in the Chicago soy complex and European rapeseed.
Increases in global crude oil prices were supportive of edible oil values, however Malaysian palm oil was down hard.
Tight supplies and the need to ration demand continued to underpin canola values.
The Canadian dollar was stronger this morning, with the loonie at 78.28 U.S. cents compared to Wednesday’s close of 77.56.
About 5,150 canola contracts had traded as of 8:39 CST.
Prices in Canadian dollars per metric tonne at 8:39 CST:
Price Change
Canola Jan 999.90 up 0.20
Mar 984.70 up 6.10
May 948.00 up 5.60
Jul 898.60 up 6.50
