Glacier FarmMedia – Canola futures on the Intercontinental Exchange were lower on Thursday morning amidst lagging exports and mixed sentiment in comparable oils.
Agriculture and Agri-Food Canada released its monthly outlook on Wednesday, raising canola carryout by 450,000 tonnes from the November estimate at 2.95 million. Exports were up one million tonnes at eight million.
Chicago soyoil and European rapeseed were negative, while Malaysian palm oil was higher. Crude oil made gains as tensions grow between the United States and Venezuela.
The Canadian dollar was steady compared to Wednesday’s close.
Nearly 12,100 contracts were traded. Prices in Canadian dollars per metric ton as of 8:35 CST:
Jan 591.00 dn 5.70
Mar 602.90 dn 5.60
May 615.10 dn 6.40
Jul 624.20 dn 5.00
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