Glacier FarmMedia MarketsFarm – The ICE Futures canola market looked to end the week on a positive note, supported by comparable oils.
Chicago soyoil, European rapeseed and Malaysian palm oil were all trading higher on Friday. Crude oil was up due to tightened United States stockpiles and signs of a slowdown in inflation. There will be no trading in Canada on May 20 due to Victoria Day while markets in the U.S. will trade their usual hours.
The Canadian dollar was unchanged compared to Thursday’s close.
The Prairies will see heavy rains over the next five days. Areas from northeastern Alberta to central Manitoba should see 35 to 65 millimetres, while southern areas of the Prairies could see 10 to 25 mm.
Roughly 10,300 contracts were traded. Prices in Canadian dollars per metric ton as of 8:45 CDT:
Jul. 661.00 up 9.50
Nov. 681.30 up 9.10
Jan. 689.60 up 7.80
Mar. 696.70 up 7.10
