By Glen Hallick, MarketsFarm
WINNIPEG, Feb. 17 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Thursday morning, but the nearby March contract was fading.
Support came from increases in the Chicago soy complex, but soyoil was virtually unchanged. There were also upticks in European rapeseed and Malaysian palm oil. However, significant declines in global crude oil prices weighed on further gains in edible oil values.
The Canadian dollar was lower on Thursday morning, with the loonie at 78.72 U.S. cents, compared to Wednesday’s close of 78.83.
About 3,500 canola contracts had traded as of 8:40 CST.
Prices in Canadian dollars per metric tonne at 8:40 CST:
Price Change
Canola Mar 1,009.80 up 0.60
May 1,002.50 up 1.80
Jul 981.10 up 4.70
Nov 853.30 up 4.30
