By Glen Hallick
Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures were lower on Thursday morning, following the other vegetable oils to the downside.
There were declines in Malaysian palm oil and European rapeseed, while Chicago soyoil was relatively steady. Losses in Chicago soybeans and soymeal added to the pressure on the veg oils, as did small decreases in global crude oil prices.
The July canola contact slipped below its 20-day and 100-day moving averages but remained above the 50-day.
Although canola crush margins edged up a little, they are down C$15 to C$20 per tonne above the futures from a week ago.
Read Also
North American grain/oilseed review: Canola hits two-week highs
Glacier FarmMedia — ICE canola futures were stronger on Friday, hitting their highest levels in two-weeks. Optimism following a recent…
Temperatures on the Prairies are expected to be in the upper teens to low 20 degrees Celsius with rain for the region’s northern areas.
The Canadian dollar was lower on Thursday morning, with the loonie dipping to 72.86 U.S. cents compared to Wednesday’s close of 72.94.
The last trading day for May options is tomorrow and the first notice day will be Tuesday.
Approximately 9,150 contracts had traded by 8:34 CDT and prices in Canadian dollars per metric tonne were:
Price Change Canola May 620.60 dn 6.10 Jul 634.70 dn 4.70 Nov 650.00 dn 5.20 Jan 657.80 dn 3.30
