ICE canola eases off to start Thursday

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market showed small declines on Thursday morning as it was pulled down by a stronger Canadian dollar and weaker vegetable oils.

Chicago soyoil was steady, but European rapeseed and Malaysian palm oil were lower. Crude oil made gains despite a larger United States stockpile and Saudi Arabia cutting its own prices for Asia.

The loonie was up more than one-tenth of a U.S. cent compared to Wednesday’s close.

Nearly 8.500 contracts were traded. Prices in Canadian dollars per metric ton as of 8:39 CDT:

Jul  694.20  dn  0.80

Nov  675.70  dn  1.20

Jan  683.90  dn  0.30

Mar  689.20  dn  1.20