WINNIPEG, Jan. 6 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were mixed on Thursday morning, having come away from larger declines in the overnight session.
Weakness in European rapeseed, as well as the Chicago soy complex weighed on canola values. Those declines were tempered by gains in Malaysian palm oil. Significant upticks in global crude oil prices also lent support to edible oils.
Additional support came from price rationing as canola supplies in Canada will remain very tight for the time being.
The Canadian dollar was lower this morning, with the loonie at 78.37 U.S. cents compared to Wednesday’s close of 78.63.
About 3,850 canola contracts had traded as of 8:41 CST.
Prices in Canadian dollars per metric tonne at 8:41 CST:
Price Change
Canola Mar 1,022.30 dn 0.70
May 1,000.90 up 0.20
Jul 949.50 dn 2.50
Nov 786.00 up 0.10
