Glacier FarmMedia MarketsFarm – The ICE Futures canola market was slightly higher on Wednesday morning amid mixed sentiment in comparable oils.
Chicago soyoil and Malaysian palm oil were up to start the day, while European rapeseed was mixed. Crude oil was lower after the International Energy Agency trimmed its 2024 growth forecast by 140,000 barrels per day.
The Canadian dollar was up more than one-tenth of a United States cent compared to Tuesday’s close. Annual inflation in the U.S. was reported to be 3.4 per cent in April, compared to 3.5 per cent the previous month.
Roughly 8,000 contracts were traded. Prices in Canadian dollars per metric ton as of 8:40 CDT:
Jul. 659.50 up 4.20
Nov. 677.60 up 3.80
Jan. 685.10 up 3.90
Mar. 689.80 up 2.80
