Glacier FarmMedia – Canola futures on the Intercontinental Exchange turned lower on Friday morning amidst mixed sentiment in comparable oils.
Chicago soyoil and Malaysian palm oil were down, while European rapeseed was mostly higher. Crude oil also made gains due to supply risks in Russia and a draw in United States stockpiles.
The Canadian dollar was down less than one-tenth of a U.S. cent compared to Thursday’s close. Statistics Canada reported today that Canada’s economy expanded 0.2 per cent in July for its first increase in four months.
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The Canadian Grain Commission reported that 627,400 tonnes of canola were shipped for export this marketing year as of Sept. 21, compared to 1.676 million one year ago.
High temperatures across the Prairies will be in the teens to low-20 degrees Celsius. Most of Saskatchewan will also see rainfall today.
Nearly 9,500 contracts were traded. Prices in Canadian dollars per metric ton as of 8:39 CDT:
Nov 614.70 dn 4.90
Jan 628.00 dn 4.70
Mar 639.20 dn 4.40
May 648.60 dn 4.30
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
