By Glen Hallick, MarketsFarm
WINNIPEG, Dec. 31 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were mixed on Thursday morning.
There was strong support coming from gains Chicago soyoil as well as additional support from higher European rapeseed and Malaysian palm oil values.
Low trading volumes this week opened the possibility of volatility in the markets, leading to price swings.
Concerns about 2020/21 canola ending stocks becoming too low remain present in the background.
The Canadian dollar was higher at 78.63 U.S. cents, compared to Wednesday’s close of 78.31.
Today marks the first notice of expiry for the January contract. The contract officially ends trading on Jan. 14.
With today being News Year’s Eve, the markets will close at 12:05 CST today. They will remain closed for New Year’s Day and reopen on Monday, Jan. 4.
About 2,700 canola contracts had traded as of 8:39 CST.
Prices in Canadian dollars per metric tonne at 8:39 CST:
Price Change
Canola Mar 635.20 up 2.30
May 622.60 up 1.60
Jul 608.50 up 0.50
Nov 536.70 dn 0.30
