Glacier FarmMedia – Canola futures on the Intercontinental Exchange extended their respective rallies on Wednesday morning, with the March and May contracts exceeding their 20-day averages.
Canadian Prime Minister Mark Carney will visit China next week where agriculture will be one of the topics discussed.
Chicago soyoil, European rapeseed and Malaysian palm oil were higher. Meanwhile, crude oil took a step back after United States President Donald Trump said Venezuela will send up to 50 million barrels to the U.S.
The Canadian dollar was up less than one-tenth of a U.S. cent compared to Tuesday’s close.
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ICE canola uptrend continues midday Thursday
Glacier FarmMedia — ICE Futures canola contracts remained pointed higher at midday Thursday, touching their highest levels in nearly four…
Nearly 10,400 contracts were traded. Prices in Canadian dollars per metric ton as of 8:50 CST:
Mar 618.60 up 4.70
May 629.00 up 5.10
Jul 636.40 up 4.80
Nov 634.30 up 4.70
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