Glacier FarmMedia – Canola futures on the Intercontinental Exchange made solid gains on Friday morning, supported by positive momentum from most comparable oils.
Chicago soyoil and European rapeseed were higher, while Malaysian palm oil was lower. Crude oil prices were up despite negative sentiment during the week.
The Canadian dollar added one quarter of a United States cent compared to Thursday’s close. Statistics Canada reported today the country added 67,000 jobs in October, exceeding economists’ expectations, while the unemployment rate declined to 6.9 per cent.
The Canadian Grain Commission reported on Thursday that 188,400 tonnes of canola were exported during the week ended Nov. 2, up from 155,500 the week before. So far this marketing year, 1.423 million tonnes were shipped compared to 3.1 million last year.
Nearly 8,100 contracts were traded. Prices in Canadian dollars per metric ton as of 8:45 CST:
Jan 640.50 up 6.80
Mar 651.50 up 6.80
May 661.80 up 7.10
Jul 668.80 up 6.40
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
