By Glen Hallick
Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures were mostly lower Thursday morning, as pressure from comparable oils erased small gains in what appeared to have been bargain hunting.
The Chicago soy complex and Malaysian palm oil were lower, while European rapeseed was mostly higher. Global crude oil prices bumped up, providing a small measure of support to the vegetable oils.
Crush margins for old crop canola nudged a little higher at C$204 per tonne above the nearby futures.
The Canadian dollar gained ground on Thursday morning with the loonie at 74.08 U.S. cents compared to Wednesday’s close of 73.80.
Approximately 11,400 contracts had traded by 8:44 CST and prices in Canadian dollars per metric tonne were:
Price Change Canola Mar 580.10 dn 0.70 May 588.50 dn 0.90 Jul 596.90 dn 0.90 Nov 601.90 dn 0.40
