By Glen Hallick, MarketsFarm
WINNIPEG, July 15 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Thursday morning, attempting to recover from significant losses over the last few trading sessions.
There was support coming from gains in Chicago soyoil, along with larger increases European rapeseed and Malaysian palm oil. Lower Chicago soybeans and soymeal weighed on values.
Daytime temperatures across the Prairies have been forecast to move into the low to mid 30 degrees Celsius for the balance of the week. Chances of rain were best in Alberta’s Peace River region, with scattered showers for the northern areas of Saskatchewan and Manitoba. The central and southern areas of the Prairies are to remain dry.
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By Glen Hallick, MarketsFarm Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures finished lower in choppy trading on Friday,…
The Canadian dollar turned lower this morning, with the loonie falling to 79.66 U.S. cents compared to Wednesday’s close of 80.02.
The new regular daily limit for canola was raised from C$30 per tonne by ICE to C$50 effective today. Lately, the exchange had been expanding the limit to C$45 and C$60 per tonne on a frequent basis.
About 6,650 canola contracts had traded as of 8:45 CDT.
Prices in Canadian dollars per metric tonne at 8:45 CDT:
Price Change
Canola Nov 902.50 up 8.80
Jan 887.70 up 3.60
Mar 869.50 up 0.50
May 849.20 up 0.10
