ICE Canada Morning Comment: Canola moving higher on strong soy complex

By Glen Hallick, MarketsFarm

WINNIPEG, April 6 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Tuesday morning, due to gains in comparable edible oils.

There were strong increases in the Chicago soy complex, while Malaysian palm oil and European rapeseed had small to moderate gains.

Tight old crop supplies continued to underpin canola values. However, the prospect of additional canola acres planted this spring tempered further gains.

The Canadian dollar was lower with loonie at 79.63 U.S. cents, compared to Monday’s close of 79.84.

About 5,100 canola contracts had traded as of 8:36 CDT.

Prices in Canadian dollars per metric tonne at 8:36 CDT:

Price Change
Canola May 775.30 up 7.70
Jul 732.50 up 6.30
Nov 624.70 up 2.60
Jan 625.60 up 1.80

Futures Prices as of April 6, 2021

Canola
Price Change
Milling Wheat
1970-01-01 00:00
Price Change
Durum
1970-01-01 00:00
Price Change
New Barley
1970-01-01 00:00
Price Change

Prices are in Canadian dollars per metric ton

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