By Glen Hallick, MarketsFarm
WINNIPEG, Feb. 4 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were higher Tuesday morning, following gains in Chicago soyoil, European rapeseed and Malaysian palm oil.
Canola exports to Europe have risen significantly this marketing year compared to 2018/19, according to Canadian Grain Commission data. While canola exports to China were down 1.6 million tonnes on the year as of December, those to Europe were up 647,000 tonnes.
Statistics Canada will release its report on grain stocks as of Dec. 31 tomorrow.
The Canadian dollar was steady this morning at 75.27 U.S. cents after closing Monday at 75.33.
About 8,400 canola contracts had traded as of 8:46 CST.
Prices in Canadian dollars per metric ton at 8:46 CST:
Price Change
Canola Mar 455.20 up 2.70
May 464.30 up 2.70
Jul 471.10 up 2.70
Nov 479.60 up 2.10
