By Glen Hallick, MarketsFarm
WINNIPEG, March 25 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures swung higher on Friday morning, after experiencing losses in the overnight session.
Gains in Malaysian palm oil and European rapeseed, along with Chicago soybeans and soymeal were supportive of canola. However, losses in Chicago soyoil were tempering further increases. As well, significant declines in global crude oil prices weighed on edible oils.
Yesterday, the Canadian Grain Commission postponed the release of its grain statistics weekly to later today.
The Canadian dollar was higher on Friday morning with the loonie at 79.84 U.S. cents compared to Thursday’s close of 79.71.
About 1,150 canola contracts had traded as of 8:40 CDT.
Prices in Canadian dollars per metric tonne at 8:40 CDT:
Price Change
Canola May 1,150.80 up 2.20
Jul 1,124.50 up 3.30
Nov 957.40 up 3.70
Jan 958.30 up 4.70
