By Glen Hallick, MarketsFarm
WINNIPEG, April 30 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were trading either side of steady on Thursday morning.
Declines were due to increases in the Canadian dollar, which was at 71.96 U.S. cents, compared to Wednesday’s close of 71.83. The dollar has been on the upswing this week on improving crude oil prices and strength in the stock markets.
Gains came from higher values for Chicago soyoil, European rapeseed and Malaysian palm oil.
Temperatures across the Prairies are expected to push into the low to mid-20’s Celsius today, helping farmers with their spring field work.
About 3,000 canola contracts had traded as of 8:50 CDT.
Prices in Canadian dollars per metric tonne at 8:50 CDT:
Price Change
Canola Jul 462.70 up 0.70
Nov 469.90 dn 0.10
Jan 476.30 up 0.30
Mar 482.10 up 0.60
