Glacier FarmMedia — The ICE canola market was mostly higher Thursday morning, taking back some of Wednesday’s losses amid ideas the selloff was overdone.
Gains in European rapeseed and Malaysian palm oil provided some spillover support for the Canadian oilseed, although the Chicago soy complex was weaker.
The advancing canola harvest kept a lid on the upside, with ongoing uncertainty over Chinese demand also overhanging the market.
About 11,500 canola contracts had traded as of 8:44 CDT.
Prices in Canadian dollars per metric tonne at 8:44 CDT:
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Canola Nov 631.30 up 3.20
Jan 643.20 up 2.90
Mar 654.00 up 2.30
May 663.30 up 1.70
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
