By Glen Hallick
Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were clinging to small increases on Thursday morning, as part of the seasonal trend to climb higher following the end of harvest, an analyst said.
The analyst added that canola could be still trying to catch up to the increases made by Chicago soybeans last month. He noted that China’s tariffs on Canadian canola seed, oil and meal continue limit the upside.
The Chicago soy complex is down so far today, although soyoil turned positive for a short time only to lose those gains. There were also declines in Malaysian palm oil while MATIF rapeseed was steady to higher. Modest upticks in crude oil were lending support to the vegetable oils.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were pulling back mid-morning Friday, in what an…
As the January canola contract remained above its 20- and 50-day moving averages, its 100- and 200-day moving averages were about 60 cents apart.
The Canadian dollar was sliding back at mid-session Thursday, with the loonie at 71.02 U.S. cents, compared to Wednesday’s close of 71.23.
Approximately 21,850 canola contracts were traded as of 10:43 am CST, with prices in Canadian dollars per metric tonne:
Canola Jan 652.00 up 1.60
Mar 664.20 up 1.10
May 674.30 up 1.40
Jul 679.50 up 1.50
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
