By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Nov. 12 (MarketsFarm) – The ICE Futures canola market was mixed Thursday morning, with gains in the front months and losses in the more deferred positions as activity resumed following Remembrance Day.
Soyoil and soybeans at the Chicago Board of Trade hit fresh highs on Wednesday when the canola market was closed. While the CBOT futures were correcting lower today, canola still found some spillover support from Wednesday’s advances.
A softer tone in the Canadian dollar in early activity added to the gains in canola, as the currency has fallen by roughly a cent off of the highs hit to start the week.
About 9,500 canola contracts had traded as of 8:43 CST.
Prices in Canadian dollars per metric ton at 8:43 CST:
Price Change
Canola Jan 560.00 up 1.40
Mar 562.60 up 0.70
May 562.10 dn 0.10
Jul 559.20 dn 1.00
