WINNIPEG – The ICE Futures canola market was mixed on Thursday, coinciding with similar sentiment in comparable oils.
European rapeseed and Malaysian palm oil were mostly higher, while Chicago soyoil was down by more than one United States cent per pound. Crude oil was also lower due to economic concerns in China and new supplies incoming from Iran and Venezuela.
One analyst noted canola prices were experiencing choppiness due to figures from the ongoing ProFarmer Crop Tour with regards to United States soybeans, as well as the upcoming supply/demand estimates from Statistics Canada to be released on Tuesday.
The Canadian dollar was steady compared to Wednesday’s close.
A system is expected to bring rain to parts of northern Alberta this morning before travelling eastward throughout the day.
Nearly 12,150 canola contracts were traded as of 10:24 CDT.
Price Change
Nov 805.80 dn 0.70
Jan 812.90 dn 0.40
Mar 815.30 up 0.10
May 816.10 up 2.80
