Glacier FarmMedia MarketsFarm – The ICE Futures canola market made its way back into positive territory on Thursday morning, supported by comparable oils.
There were sharp gains in Chicago soyoil and Malaysian palm oil, while European rapeseed was also higher. Crude oil moved slightly upward.
The Canadian dollar was steady compared to Wednesday’s close. Yesterday the Bank of Canada (BoC) announced it’s cutting its key lending rate by 25 basis points at 4.75 per cent.
Roughly 23,200 contracts were traded. Prices in Canadian dollars per metric ton as of 8:40 CDT:
Jul. 627.40 up 10.40
Nov. 652.50 up 10.50
Jan. 659.30 up 9.80
Mar. 663.00 up 7.80
