WINNIPEG – The ICE Futures canola market added onto the gains it made on Thursday while receiving support from comparable oils.
Chicago soyoil, European rapeseed and Malaysian palm oil were all higher to start the day. Crude oil also made gains due to production cuts by Saudi Arabia and Russia, as well as a record drawdown of United States inventories.
The Canadian dollar was down more than one-tenth of a U.S. cent compared to Thursday’s close. Statistics Canada reported today that the country’s unemployment rate rose 0.1 of a percentage point to 5.5 per cent.
Canadian markets will be closed Monday for civic holidays, while markets in the U.S. will trade their usual hours.
Nearly 4,600 contracts were traded. Prices in Canadian dollars per metric ton as of 8:46 CDT:
Nov. 787.70 up 6.80
Jan. 791.50 up 7.30
Mar. 792.60 up 7.00
May 787.80 up 4.30
