By Glen Hallick, MarketsFarm
WINNIPEG, Jan. 6 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were mostly higher on Friday morning, benefitting from upticks in the Chicago soy complex. The exception being a dip in the new crop November contract.
Global crude oil prices were also on the rise, which helped to stem further losses in Malaysian palm oil and European rapeseed.
The Canadian Grain Commission (CGC) reported producer deliveries of canola for Weeks 21 and 22 amounted to 451,600 tonnes, which brought the year-to-date to nearly 8.19 million tonnes. Canola exports during the holiday period came to 202,900 tonnes, with year-to-date rising to almost 3.57 million tonnes. Domestic usage was 322,600 tonnes, with the year-to-date at 4.16 million tonnes.
The Canadian dollar was higher on Friday morning, as the loonie rose to 73.89 U.S. cents compared to Thursday’s close of 73.72.
About 4,300 contracts had traded as of 8:36 CST.
Prices in Canadian dollars per metric tonne at 8:36 CST:
Price Change Canola Mar 867.90 up 2.60 May 864.80 up 2.20 Jul 864.00 up 2.00 Nov 832.80 dn 1.00
