By Glen Hallick, MarketsFarm
WINNIPEG, April 28 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were lower on Friday morning, getting mixed support from comparable oils. The only gain was in the very lightly traded March 2024 contract.
While there were gains in Chicago soybeans and soymeal, soyoil was a pinch lower. Malaysian palm oil was down hard and there were more modest declines in European rapeseed. A measure of support for the vegetable oils came from small upticks in global crude oil prices.
Canola crush margins bumped up, with the positions at C$160 to C$190 per tonne above the futures.
The Canadian dollar was lower on Friday morning, with the loonie at 73.29 U.S. cents compared to Thursday’s close of 73.46.
About 6,600 contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric tonne at 8:35 CDT:
Price Change Canola Jul 705.80 dn 2.80 Nov 681.40 dn 2.00 Jan 687.30 dn 2.10 Mar 692.00 up 1.70
