Glacier FarmMedia MarketsFarm – The ICE Futures canola market could not maintain its upward momentum at the end of the week amidst mixed sentiment in comparable oils.
While Chicago soyoil was steady, European rapeseed was down and Malaysian palm oil was up. Crude oil was slightly higher.
The weekend should see the return of warmer and drier conditions across the Prairies.
One analyst said this weekend would be a prime opportunity to begin or continue harvesting operations, while the forecast for the second half of August is predicting normal temperatures.
About 15,500 contracts have traded at 10:19 CDT. Prices in Canadian dollars per metric tonne:
Price Change
Nov 595.50 dn 1.50
Jan 603.90 dn 1.70
Mar 611.10 dn 1.80
May 616.60 dn 1.20
