By Glen Hallick, MarketsFarm
WINNIPEG, Oct. 19 (MarketsFarm) – Intercontinental Exchange canola futures were mostly higher in choppy trading on Thursday morning.
While Chicago soybeans and soyoil slipped back, soymeal was higher. Malaysian palm oil and European rapeseed were to the downside. Modest declines in global crude oil prices added pressure on to the vegetable oils.
Daytime highs across the Prairies are expected to range from the mid-teens to low 20’s Celsius. A few scattered showers have been forecast for parts of the region.
Canola crush margins gained some ground with the nearby positions remaining well in excess of C$200 per tonne above futures.
The Canadian dollar fell back on Thursday morning with the loonie at 72.83 U.S. cents compared to Wednesday’s close of 73.07.
About 13,450 contracts had traded as of 8:39 CDT.
Prices in Canadian dollars per metric tonne at 8:39 CDT:
Price Change Canola Nov 711.00 dn 0.70 Jan 719.00 up 0.30 Mar 726.60 up 1.10 May 730.60 up 1.50
