By Glen Hallick, MarketsFarm
WINNIPEG, May 21 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were steady to lower on Thursday morning amid light volumes.
Chicago soyoil was slightly higher, while European rapeseed and Malaysian palm oil were lower.
Rain has continued in parts of Alberta as the system moves into Saskatchewan. Another system bringing precipitation has been forecast to move into southern areas of Saskatchewan and Manitoba over the next couple of days.
Saskatchewan Agriculture releases its weekly crop report later on Thursday and Alberta issues its next report on Friday. This week, Manitoba reported good progress was made with spring planting, going from nine to 42 per cent complete.
The Canadian dollar was firm Thursday morning at 71.95 U.S. cents, compared to Wednesday’s close of 71.98.
About 1,700 canola contracts had traded as of 8:48 CDT.
Prices in Canadian dollars per metric tonne at 8:48 CDT:
Price Change
Canola Jul 471.70 dn 0.90
Nov 478.60 dn 0.70
Jan 484.90 dn 0.60
Mar 490.90 unchanged
