By Jade Markus, Commodity News Service Canada
WINNIPEG, MB, January 20, 2017 – ICE Canada canola contracts were higher in early activity on Friday, as the Canadian dollar fell below a key level.
The loonie dropped below 75 cents against its US counterpart, as US president elect Donald Trump will be inaugurated today.
Canola’s technical bias is to the upside, which has caused buying to build on itself, which added to the market’s strength.
The US soy complex declined in early activity on Friday, limiting the market’s upside.
Malaysian palm oil closed lower overnight, which also capped gains.
About 9,671 canola contracts had traded as of 9:00 CST.
Milling wheat, durum, and barley futures were all untraded and unchanged.
Prices in Canadian dollars per metric ton at 9:00 CST:
