ICE canola higher on Friday

By Marlo Glass, MarketsFarm
WINNIPEG, Jan. 3 (MarketsFarm) – The ICE Futures canola market was slightly higher on Friday morning, despite pressure from a strong Canadian dollar and a lower tone for the soy complex on the Chicago Board of Trade.
A weaker tone for soy oil on the Chicago Board of Trade limited gains for canola values. According to recent export data from the United States Department of Agriculture (USDA), soybean exports hit marketing-year lows last week.
The Canadian dollar was firm on Friday, putting further pressure on prices. The dollar was around 76.98 U.S. cents on Friday morning.
About 3,300 canola contracts had traded as of 8:35 CST.
Prices in Canadian dollars per metric ton at 8:35 CST:
Price Change
Canola Mar 481.40 up 1.40
May 489.90 up 0.80
Jul 495.60 up 0.80
Nov 498.00 unch

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