By Glen Hallick, MarketsFarm
WINNIPEG, July 2 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Friday morning, as trading resumed following Canada Day.
The heat continues to be felt on the Prairies with temperatures above 30 Celsius across the region as the heat dome moves eastward. There is very little chance of rain over the next five days.
There were gains in the Chicago soy complex as well as Malaysian palm oil and European rapeseed.
The Canadian dollar edged a little higher this morning, with the loonie at 80.75 U.S. cents compared to Wednesday’s close of 80.68.
Corn, soybean and wheat futures pulled back on Thursday after the strong gains the day before. The U.S. markets will be closed on Monday to mark Independence Day.
About 5,400 canola contracts had traded as of 8:38 CDT.
Prices in Canadian dollars per metric tonne at 8:38 CDT:
Price Change
Canola Nov 822.00 up 10.30
Jan 817.50 up 8.50
Mar 811.70 up 11.50
May 793.20 up 3.10
