Glacier FarmMedia – Canola futures on the Intercontinental Exchange were slightly lower in choppy trading on Friday.
An analyst said there were many factors affecting canola prices including trade volumes, the conflict in the Middle East and speculation over biofuel blends in the United States.
Chicago soyoil and European rapeseed were higher. There was no trading for Malaysian palm oil due to a holiday. Crude oil prices gained between US$1 to $2 per barrel after Iran attacked an oil refinery in Kuwait earlier today.
The Canadian Grain Commission reported 292,100 tonnes of canola were exported during the week ended March 15, well above the 113,500 tonnes shipped the week before. So far this marketing year, 4.879 million tonnes of canola were exported, compared to 6.518 million at the same time last year.
Read Also
ICE Canada Morning Comment: Canola looking to add gains
By Glen Hallick Glacier FarmMedia – Canola futures on the Intercontinental Exchange were attempting to climb higher on Friday morning,…
The Canadian dollar was steady compared to Thursday’s close.
About 27,700 canola contracts have traded at 10:14 CDT. Prices in Canadian dollars per metric tonne:
Price Change
May 727.50 dn 0.80
Jul 740.40 dn 0.70
Nov 731.60 dn 2.20
Jan 736.00 dn 1.90
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
Stay informed with our daily market videos. Each video quickly covers key futures moves, price trends, and market signals that matter to Canadian farmers. Get clear, timely insights in just a few minutes. Bookmark https://www.producer.com/markets-futures-prices/videos
