Glacier FarmMedia – Canola futures on the Intercontinental Exchange rebounded heading into the long weekend, supported by rising crude oil prices and a weaker Canadian dollar.
United States President Donald Trump said in a televised address on Wednesday that his country would hit Iran hard over the next two to three weeks, but did not say when he expected the war would end. As a result, crude oil rose between US$7 to US$12 per barrel Thursday afternoon.
An analyst said crude oil’s climb spilled over into vegetable oils, including Chicago soyoil as well as canola. Chicago soyoil gained nearly two U.S. cents per pound, while European rapeseed and Malaysian palm oil were higher.
Read Also
U.S. Grain/Oilseed Review: Wheat rebounds, corn, soybeans lower
Glacier FarmMedia – Despite weak export sales, WHEAT futures made gains on Thursday, clawing back heavy losses on Wednesday. The…
There will be no trading tomorrow due to the Good Friday holiday.
At mid-afternoon, the Canadian dollar was down more than one-tenth of a U.S. cent compared to Wednesday’s close.
There were 57,301 canola contracts traded on Thursday, compared to Wednesday when 56,844 contracts changed hands. Spreads accounted for 39,832 contracts in today’s trade.
Settlement prices are in Canadian dollars per metric tonne.
May 727.00 up 8.50
Jul 740.00 up 8.20
Nov 733.80 up 8.30
Jan 739.80 up 8.40
Spread trade prices are in Canadian dollars:
May/Jul 12.80 under to 13.30 under 11,665
May/Nov 5.40 under to 7.30 under 822
May/Jan 11.80 under to 12.50 under 9
May/Mar 15.50 under to 17.00 under 4
May/Jul 16.40 under to 17.60 under 1
Jul/Nov 8.00 over to 5.90 over 5,744
Jul/Jan 2.00 over to 0.10 over 17
Jul/Mar 2.40 under to 4.00 under 2
Nov/Jan 5.50 under to 6.30 under 1,384
Jan/Mar 3.70 under to 4.50 under 202
Mar/May 0.70 under to 0.90 under 28
May/Jul 0.10 over 38
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
Stay informed with our daily market videos. Each video quickly covers key futures moves, price trends, and market signals that matter to Canadian farmers. Get clear, timely insights in just a few minutes. Bookmark https://www.producer.com/markets-futures-prices/videos
