WINNIPEG – The ICE Futures canola market was moving upwards on Wednesday morning thanks to support from comparable oils.
Chicago soyoil and Malaysian palm oil were up to start the day, while European rapeseed was higher on the nearby contracts and lower on the deferreds. Crude oil was also higher as traders anticipate a large draw from United States inventories.
The Canadian dollar was up three-tenths of a U.S. cent compared to Tuesday’s close.
Rain and thunderstorms are forecast for parts of Alberta and Saskatchewan with temperatures in the mid-20 degrees Celsius and higher across the Prairies.
Nearly 9,250 contracts were traded. Prices in Canadian dollars per metric ton as of 8:39 CDT:
Nov. 815.80 up 4.00
Jan. 821.00 up 2.60
Mar. 822.60 up 1.40
May 820.50 up 0.90
