WINNIPEG – The ICE Futures canola market rose sharply on Friday morning, largely due to surging crude oil prices.
Crude oil gained more than US$3 per barrel due to ongoing uncertainty with regards to the conflict between Israel and Hamas. European rapeseed and Malaysian palm oil were also higher to start the day.
The Canadian dollar was down one-tenth of a United States cent compared to Thursday’s close.
Clear skies and high temperatures in the low-double digits Celsius will be seen throughout the Prairies, except for parts of southern Alberta which will see light rain and cooler temperatures.
Nearly 16,100 contracts were traded. Prices in Canadian dollars per metric ton as of 8:33 CDT:
Nov. 720.80 up 8.20
Jan. 724.10 up 6.90
Mar. 727.00 up 6.10
May 729.40 up 4.90
