WINNIPEG – The ICE Futures canola market was in positive territory on Thursday morning, receiving support from comparable oils.
Chicago soyoil and Malaysian palm oil were up, while European rapeseed was mostly negative. Crude oil was on the rise due to Israel’s ongoing ground offensive into the Gaza Strip.
The Canadian dollar was up four-tenths of a United States cent compared to Wednesday’s close, largely due to a weakened U.S. dollar. On Wednesday, the U.S. Federal Reserve opted to leave its policy interest rates unchanged.
Nearly 8,200 contracts were traded. Prices in Canadian dollars per metric ton as of 8:35 CDT:
Jan. 681.90 up 8.60
Mar. 691.10 up 8.90
May 697.70 up 9.10
Jul. 703.50 up 8.30
