WINNIPEG – The ICE futures canola market was mixed on Thursday morning, in part due to rising soybean and crude oil prices. Positioning ahead of the U.S. Department of Agriculture’s (USDA) monthly supply/demand estimates, out later in the day, accounted for some of the activity.
Chicago soyoil was down and European rapeseed was mostly lower but Malaysian palm oil was higher. Crude oil jumped more than one United States dollar per barrel while the war between Israel and the Gaza Strip persists.
The Canadian dollar was down less than one-tenth of a U.S. cent compared to Wednesday’s close.
With the exception of southern Alberta, which will see some rain later today, there will be clear skies across the Prairies with high temperatures in the double digits Celsius.
Nearly 10,800 contracts were traded. Prices in Canadian dollars per metric ton as of 8:39 CDT:
Nov. 705.60 up 2.90
Jan. 709.40 up 1.90
Mar. 712.60 dn 0.20
May 715.50 dn 1.50
