WINNIPEG – The ICE Futures canola market returned to weakness Thursday morning, dragged down by vegetable oils.
Chicago soyoil and Malaysian palm oil were down to start the day, while European rapeseed was mostly lower. Although crude oil initially retreated after the United States Federal Reserve left its key interest rates unchanged, it has resumed its upward climb.
The Canadian dollar was down four-tenths of a U.S. cent compared to Wednesday’s close, providing support for canola.
The Prairies will see high temperatures up to the low-20 degrees Celsius, while southern Saskatchewan and southern Manitoba may see rain showers later today.
Nearly 11,150 contracts were traded. Prices in Canadian dollars per metric ton as of 8:45 CDT:
Nov. 728.90 dn 7.20
Jan. 738.00 dn 7.10
Mar. 743.90 dn 7.80
May 749.60 dn 7.90
