WINNIPEG – The ICE Futures canola market was mixed on Friday as crude oil jumped and veg oils were also mixed.
No precipitation was forecast for the Prairies during the Labour Day weekend as sweltering temperatures continue for Alberta and Saskatchewan over the next few days. In Manitoba, temperatures will come down into the mid-20 degrees Celsius.
Crude oil prices rebounded after consecutive declines during the week prior to an OPEC+ meeting on supply in which Saudi Arabia could push for production cuts. Chicago soyoil was mixed, while European rapeseed was higher and Malaysian palm oil was lower. After a 22-month low close on Thursday, the Canadian dollar gained one-quarter of a U.S. cent.
About 4,100 canola contracts were traded as of 8:36 a.m. CDT.
Prices in Canadian dollar per metric ton as of 8:36:
Nov. 812.30 up 0.30
Jan. 820.40 dn 0.60
Mar. 827.60 dn 0.10
May 831.10 up 1.10
