WINNIPEG – The ICE Futures canola market extended its downturn on Friday morning despite relative strength in vegetable oils.
Chicago soyoil and Malaysian palm oil were both higher, while European rapeseed was down. Crude oil fell by US$2 per barrel with the markets still assessing hawkish sentiments from the United States Federal Reserve.
The Canadian dollar dropped nearly three-tenths of a U.S. cent compared to Thursday’s close.
Nearly 10,600 canola contracts were traded. Prices in Canadian dollars per metric ton as of 8:38 CDT:
Jul. 733.50 dn 6.30
Nov. 707.40 dn 7.70
Jan. 712.10 dn 8.20
Mar. 712.70 dn 9.40
