By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were posting increases on Friday morning.
Support for the Canadian oilseed came from gains in Chicago soybeans and soyoil as well as European rapeseed. That was tempered by declines in Chicago soymeal and Malaysian palm oil. Crude oil was higher, underpinning the vegetable oils.
Also, canola was being guided by pre-report positioning ahead of today’s supply and demand estimates from the United States Department of Agriculture.
Pressure on canola also came from the advancing harvest across the Prairies. Saskatchewan reported combining there was 41 per cent complete with its canola at 12 per cent finished.
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ICE canola up at midday Friday
Glacier FarmMedia — The ICE Futures canola market was stronger at midday Friday, finding spillover support from advances in Chicago…
The Canadian dollar was virtually unchanged on Thursday morning, with the loonie at 72.21 U.S. cents compared to Thursday’s close of 72.23.
Approximately 15,600 contracts were traded by 8:44 CDT and prices in Canadian dollars per metric tonne were:
Price Change
Canola Nov 636.50 up 4.80
Jan 647.90 up 3.80
Mar 659.30 up 3.80
May 669.30 up 3.70
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
