WINNIPEG – The ICE Futures canola market had a mixed tone on Thursday morning with a variety of factors pulling prices in opposite directions.
Parts of the Prairies were expected to see sunny skies and temperatures in the high-20 and low-30 degrees Celsius for most of the day, only to give way to thunderstorms in the evening.
Crude oil was lower in the morning, after its lowest close in six months on Wednesday, due to weakening gasoline demand in the United States as well as rising inventories. Soyoil was higher to start the day, while European rapeseed and Malaysian palm oil were mostly higher. The Canadian dollar was down one-tenth of a U.S. cent.
About 4,900 canola contracts were traded as of 8:38 a.m. CDT.
Prices in Canadian dollar per metric ton as of 8:38:
Nov. 820.70 dn 1.20
Jan. 831.30 dn 0.60
Mar. 836.80 dn 2.60
May 844.30 up 0.60
