WINNIPEG, Jan. 7 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were on the rise Friday morning, with double digit increases for the old crop contracts.
Support was coming from a strong spike in the front months of European rapeseed, plus small gains in Chicago soyoil.
Losses in Chicago soybeans and soymeal, along with Malaysian palm oil were tempering further increases.
The Canadian dollar was higher this morning, with the loonie at 78.70 U.S. cents compared to Thursday’s close of 78.49.
About 7,150 canola contracts had traded as of 8:36 CST.
Prices in Canadian dollars per metric tonne at 8:36 CST:
Price Change
Canola Mar 1,035.60 up 12.30
May 1,013.50 up 11.90
Jul 962.50 up 10.00
Nov 792.90 up 6.10
