WINNIPEG – The ICE Futures canola market was in decline on Thursday following the lead of comparable oils.
Chicago soyoil continued its selloff from Wednesday, with European rapeseed and Malaysian palm oil also in the red. Crude oil dropped US$2 per barrel after United States Federal Reserve chair Jerome Powell indicated that interest rates would likely need to be raised again later this year.
The Canadian dollar is up nearly one-tenth of a U.S. cent compared to Wednesday’s close.
Nearly 8,000 canola contracts were traded. Prices in Canadian dollars per metric ton as of 8:38 CDT:
Jul. 739.90 dn 5.40
Nov. 711.30 dn 9.30
Jan. 716.30 dn 10.30
Mar. 718.40 dn 10.40
