ICE canola trending upwards
By Adam Peleshaty, MarketsFarm
Glacier FarmMedia MarketsFarm – The ICE Futures canola market was back in positive territory on Thursday, despite mixed sentiment in comparable oils.
Malaysian palm oil was lower, but European rapeseed was mixed and Chicago soyoil was higher. Crude oil also made gains due to upcoming supply cuts from OPEC+.
The Canadian dollar was up one-tenth of a United States cent compared to Wednesday’s close. North American markets will be closed tomorrow for Good Friday.
Nearly 9,500 contracts were traded. Prices in Canadian dollars per metric ton as of 8:38 CDT:
May 628.90 up 1.70
Jul. 638.50 up 1.40
Nov. 646.90 up 1.60
Jan. 654.10 up 1.70
