Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange rebounded early Thursday from Wednesday’s sharp losses, strengthened by a weaker Canadian dollar and rising comparable oils.
Chicago soyoil and European rapeseed were higher while Malaysian palm oil was slightly lower. Crude oil made gains due to inflamed tensions in the Middle East as well as supply concerns.
Most of the Prairies will see rainfall over the next few days with some areas also seeing below-normal temperatures. In Winnipeg, conditions will be sunny and will gradually turn warmer this weekend.
The Canadian dollar was down one-quarter of a United States cent compared to Wednesday’s close. U.S. retail sales improved by 0.6 per cent in June compared to May, according to the Labor Department.
Nearly 11,600 contracts were traded. Prices in Canadian dollars per metric ton as of 8:40 CDT:
Nov 686.60 up 10.60
Jan 696.40 up 11.50
Mar 703.40 up 11.70
May 708.20 up 11.30
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
