By Glen Hallick, MarketsFarm
WINNIPEG, March 2 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Thursday morning, with the larger increases in the new crop months.
Support for canola came from significant gains in Malaysian palm oil as well as modest upticks in European rapeseed. Global crude oil prices nudged up a little higher, providing some direction to vegetable oils.
Crush margins remained very strong, underpinning canola values.
The Canadian dollar was slightly lower with the loonie at 73.40 U.S. cents compared to Wednesday’s close of 73.46.
About 7,200 contracts had traded as of 8:37 CST.
Prices in Canadian dollars per metric tonne at 8:37 CST:
Price Change Canola May 819.50 up 1.00 Jul 815.50 up 0.70 Nov 795.20 up 3.00 Jan 799.80 up 3.00
