ICE canola futures: canola slightly stronger on Wednesday morning

By Marlo Glass, MarketsFarm
WINNIPEG, May 6 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were slightly higher on Wednesday morning, despite weakness in comparable vegetable oils.
Losses in Chicago soyoil tempered gains for canola. Nearby contracts were down by about a third of a cent.
Malaysian palm oil futures were near 10-month lows in today’s trading session due to increases in production and weak export data.
A weaker tone for the Canadian dollar provided a boost to canola values. The Canadian dollar was just under 71 U.S. cents on Wednesday morning.
About 3,000 canola contracts had traded as of 8:40 CDT.
Prices in Canadian dollars per metric ton at 8:40 CDT:
                          Price      Change
Canola      Jul 465.80 up 1.50
Nov 472.90 up 1.40
Jan 478.80 up 1.20
Mar 485.00 up 1.20
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