ICE canola mostly higher Thursday morning
WINNIPEG – The ICE Futures canola market was mostly higher Thursday morning, although activity was thin and choppy.
Chicago Board of Trade soyoil futures were lower in early activity while Malaysian palm oil also posted losses overnight. However, European rapeseed futures were holding onto small gains.
Ongoing concerns over tight supplies remained supportive, but prices may have already reached a level to ration demand.
Statistics Canada releases updated production estimates on Friday, with average trade guesses calling for a downward revision to the already small crop projection.
About 3,200 canola contracts had traded as of 8:48 CST.
Prices in Canadian dollars per metric ton at 8:48 CST:
Price Change
Canola Jan 1,006.00 up 11.60
Mar 975.10 up 7.80
May 932.60 up 2.40
Jul 883.20 dn 1.20
