By Glen Hallick, MarketsFarm
WINNIPEG, May 15 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were higher on Friday morning due to gains in the Chicago soy complex.
Good progress should be made in the fields across the Prairies this Victoria Day long weekend and into next week. Temperatures are forecast to push into the low to mid 20 degrees Celsius.
Saskatchewan reported on Thursday that planting reached 18 per cent complete. Earlier this week Manitoba said seeding was at nine per cent finished. Alberta issues its weekly crop report on Friday.
With the long weekend, the Canadian markets will be closed on Monday, May 18.
The Canadian dollar is steady Friday morning at 71.07 U.S. cents, compared to Thursday’s close of 70.97.
About 2,600 canola contracts had traded as of 9:08 CDT.
Prices in Canadian dollars per metric tonne at 9:08 CDT:
Price Change
Canola Jul 473.10 up 2.40
Nov 478.80 up 1.20
Jan 485.00 up 1.40
Mar 490.60 up 1.90
