WINNIPEG – The ICE Futures canola market has surpassed the C$800 per tonne mark despite mixed sentiment in comparable oils.
Chicago soyoil was up, but Malaysian palm oil was lower and European rapeseed was mostly lower. Crude oil only gained a few cents with help from easing inflation in the United States.
The Canadian dollar gained more than one-tenth of a U.S. cent compared to Wednesday’s close. The Bank of Canada (BoC) announced on Wednesday that the country’s key interest rate will be raised 25 basis points to five per cent.
Nearly 9,400 canola contracts were traded. Prices in Canadian dollars per metric ton as of 8:40 CDT:
Nov. 802.10 up 4.60
Jan. 801.20 up 2.20
Mar. 797.00 up 1.30
May 788.00 dn 1.70
