By Glen Hallick, MarketsFarm
WINNIPEG, Oct. 14 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were higher on Wednesday morning, due to increases in Chicago soyoil.
A strike by oilseed plant workers in Argentina has pushed up soyoil prices.
There was little direction coming from other edible oils, as Malaysian palm was steady and European rapeseed was slightly lower.
The Canadian dollar was firm at 76.11 U.S. cents, compared to Tuesday’s close of 76.14.
Manitoba Agriculture reported yesterday that the overall provincewide harvest was 95 per cent complete. The combining of canola stood at 98 per cent finished.
Temperatures across the Prairies today are forecast to reach into the mid-single digits Celsius and slipping to the lower single digits as the weekend approaches. Precipitation will consist of a mixture of light rain and snow.
About 8,000 canola contracts had traded as of 8:45 CDT.
Prices in Canadian dollars per metric tonne at 8:45 CDT:
Price Change
Canola Nov 528.10 up 2.80
Jan 535.10 up 2.80
Mar 540.80 up 2.60
May 542.90 up 1.60
