By Glen Hallick, MarketsFarm
WINNIPEG, Oct. 27 (MarketsFarm) – Canola futures on the Intercontinental Exchange (ICE) were mostly higher on Thursday morning, with the nearby November contract the exception.
With the first notice day for November futures being Oct. 31, trading in the nearby canola contract has rapidly dwindled.
Support for canola was coming from increases in the Chicago soy complex, European rapeseed and Malaysian palm oil. Moderate gains in global crude oil prices were lending support to vegetable oils.
While canola crush margins remained very large, they are beginning to come down.
The Canadian dollar was virtually on Thursday morning, with the loonie at 73.73 U.S. cents.
About 4,150 contracts had traded as of 8:39 CDT.
Prices in Canadian dollars per metric tonne at 8:39 CDT:
Price Change
Canola Nov 917.70 dn 18.60
Jan 879.60 up 3.30
Mar 883.10 up 2.80
May 887.80 up 2.50
