By Marlo Glass, MarketsFarm
WINNIPEG, Nov. 20 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were stronger on Friday morning, hitting fresh contract highs.
Gains in comparable oilseed markets were supportive of canola values, with nearby Chicago soybean contracts also reaching contract highs in overnight trade. Nearby soyoil contracts were up by about a tenth of a cent in early morning trade.
Continued strength in the Canadian dollar was a limiting factor for canola, as the loonie was around 76.6 U.S. cents in early morning activity.
About 6,500 canola contracts had traded as of 8:45 CST.
Prices in Canadian dollars per metric ton at 8:45 CST:
Canola Jan 576.40 up 4.20
Mar 574.30 up 3.10
May 571.40 up 2.70
Jul 567.50 up 2.60