By Glen Hallick, MarketsFarm
WINNIPEG, Feb. 16 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Wednesday morning, benefitting from gains in the Chicago soy complex and in European rapeseed.
While increases in global crude oil prices were spilling over into edible oils, Malaysian palm oil was lower.
Tight supplies and the need to ration demand continued to underpin canola values.
The Canadian dollar was higher on Wednesday morning, with the loonie at 78.83 U.S. cents, compared to Tuesday’s close of 78.49.
About 3,350 canola contracts had traded as of 8:34 CST.
Prices in Canadian dollars per metric tonne at 8:34 CST:
Price Change
Canola Mar 1,008.60 up 6.00
May 997.80 up 7.20
Jul 971.80 up 7.30
Nov 843.30 up 2.60
