Glacier FarmMedia — Canola futures on the Intercontinental Exchange maintained their positive momentum Wednesday morning as rising comparable oils and a weaker Canadian dollar supported prices.
Chicago soyoil, European rapeseed and Malaysian palm oil were higher. Crude oil also made gains due to supply issues and a drop in United States inventories.
The loonie was down nearly three-tenths of a U.S. cent compared to Tuesday’s close.
Parts of central Saskatchewan and central Alberta will see rain today, while southern areas of the Prairies will be sunny. Alberta will see normal temperatures, Manitoba will be warmer than usual and the high in Regina will be 30 degrees Celsius later today.
Manitoba’s harvest was 56 per cent complete as of Sept. 21, with the province’s canola crop 45 per cent combined.
Nearly 10,700 contracts were traded. Prices in Canadian dollars per metric ton as of 8:43 CDT:
Nov 620.00 up 2.40
Jan 633.30 up 2.20
Mar 644.80 up 2.20
May 654.10 up 1.60
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
