By Marlo Glass, MarketsFarm
WINNIPEG, Aug. 27 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were higher on Thursday morning.
Continued strength to the Canadian dollar prevented further gains for canola. The loonie was around 76.1 United States cents this morning, as the U.S. dollar index remained around 93 points.
Canola prices got a boost from strength in comparable vegetable oils. Nearby soyoil contracts were up by about a third of a cent in early morning activity following reports of strong export demand. Malaysian palm oil was also stronger to start the day.
About 6,000 canola contracts had traded as of 8:50 CDT.
Prices in Canadian dollars per metric ton at 8:50 CDT:
Price Change
Canola Nov 495.00 up 1.40
Jan 503.00 up 1.30
Mar 508.80 up 0.80
May 513.80 up 0.40
END
