Glacier FarmMedia MarketsFarm – The ICE Futures canola market was steady to higher on Thursday amidst weaker comparable oils and lighter trading.
European rapeseed and Malaysian palm oil were down. Crude oil was slightly lower despite fewer United States stockpiles and the severity of Hurricane Beryl. Chicago soyoil was not traded as U.S. markets will be closed for most of the day due to Independence Day.
The Canadian dollar was up one-tenth of a U.S. cent compared to Wednesday’s close.
One analyst said despite lower trade volumes today, canola prices were still being dictated by vegetable oils.
About 21,600 contracts have traded at 10:09 CDT. Prices in Canadian dollars per metric tonne:
Price Change
Nov 652.90 up 0.20
Jan 662.60 up 0.10
Mar 669.30 up 1.00
May 674.30 up 2.10
