Glacier FarmMedia MarketsFarm – The ICE Futures canola market declined on Thursday morning, following weakness in most comparable oils.
Chicago soyoil and European rapeseed were lower to start the day, while crude oil also took a step back due to economic concerns in China. However, Malaysian palm oil was higher.
The Canadian dollar was down two-tenths of a United States cent compared to Wednesday’s close. The Bank of Canada announced yesterday it has cut its key interest rate by 25 basis points at 4.5 per cent.
Roughly 14,700 contracts were traded. Prices in Canadian dollars per metric ton as of 8:39 CDT:
Nov. 666.90 dn 3.70
Jan. 671.60 dn 3.50
Mar. 675.20 dn 2.70
May 674.10 dn 1.90
