Glacier FarmMedia MarketsFarm – The ICE Futures canola market was steady to higher entering the Canada Day weekend.
Chicago soyoil was steady, while European rapeseed and Malaysian palm oil were higher. Crude oil also made gains due to Middle East tensions and potential political shifts in some of the largest economies.
The United States Department of Agriculture will release its planting intentions and quarterly grain stocks reports later today.
The Canadian dollar was relatively unchanged compared to Thursday’s close. Statistics Canada reported this morning that the country’s economy grew by 0.3 per cent in April, while preliminary estimates suggest a 0.1 per cent increase in real GDP in May.
Roughly 4,600 contracts were traded. Prices in Canadian dollars per metric ton as of 8:36 CDT:
Nov. 621.20 up 0.10
Jan. 628.50 unchanged
Mar. 635.90 up 0.80
May 642.10 up 2.80
