By Glen Hallick, MarketsFarm
WINNIPEG, Oct. 7 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were narrowly mixed Thursday morning in choppy trading.
Support came from gains in the Chicago soy complex and European rapeseed. Also, tight supplies and production uncertainty continued to underpin values. On the other side of the coin, lower Malaysian palm oil and small declines in global crude oil prices were putting some pressure on edible oils.
Temperatures across the Prairies have begun to cool, with daytime highs today in Alberta and Saskatchewan in the mid to high teens Celsius. However, the mercury in Manitoba will push into the mid 20’s C before pulling back. Rain is expected in the eastern half of the Prairies over the weekend.
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North American Grain and Oilseed Review: Canola swings upward
By Glen Hallick, MarketsFarm Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures climbed higher on Tuesday, getting a boost…
Saskatchewan Agriculture will release its weekly crop report later today. Last week the department reported the harvest was 95 per cent complete, with 92 per cent of the canola in the bin.
The Canadian dollar was higher this morning, with the loonie at 79.40 U.S. cents, compared to Wednesday’s close of 79.28.
About 2,800 canola contracts had traded as of 8:36 CDT.
Prices in Canadian dollars per metric tonne at 8:36 CDT:
Price Change
Canola Nov 923.30 up 0.50
Jan 910.20 up 0.50
Mar 894.60 dn 1.30
May 871.70 dn 2.60
