By Glen Hallick, MarketsFarm
WINNIPEG, April 1 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were mixed on Friday morning, with losses in the old crop contracts.
Pressure came from declines in Chicago soybeans and soyoil, as well as Malaysian palm oil and the nearby May contract in European rapeseed. There were increases in rapeseed’s remaining positions and in Chicago soymeal. Global crude oil prices were lower, which weighed on edible oils.
In the grains statistics weekly from the Canadian Grain Commission on Thursday, the report showed only 800 tonnes of canola were exported for the week ended March 27. That’s a far cry from the 128,300 tonnes sent abroad the previous week. To date, total exports of 4.02 million tonnes are 51 per cent of those a year ago.
The Canadian dollar was a pinch lower on Friday morning with the loonie at 79.95 U.S. cents compared to Thursday’s close of 80.03.
About 2,550 canola contracts had traded as of 8:36 CDT.
Prices in Canadian dollars per metric tonne at 8:36 CDT:
Price Change
Canola May 1,125.50 dn 4.90
Jul 1,103.30 dn 4.00
Nov 965.30 up 2.40
Jan 965.50 up 2.80
