By Marlo Glass, MarketsFarm
WINNIPEG, Nov. 17 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were stronger on Tuesday morning.
Gains in Chicago soyoil contracts propped up canola values in early morning trade, along with a stronger tone for Malaysian palm oil and European rapeseed. Nearby Chicago soyoil contracts were up by about a quarter of a cent.
Slight losses in the Canadian dollar were also supportive of canola values, as weakness in crude oil hampered the loonie. The loonie was around 76.4 U.S. cents in early morning activity.
About 5,500 canola contracts had traded as of 8:45 CST.
Prices in Canadian dollars per metric ton at 8:45 CST:
Price Change
Canola Jan 563.60 up 4.30
Mar 566.60 up 4.20
May 566.40 up 4.10
Jul 564.90 up 4.40
