ICE canola finds strength as weekend approaches

Glacier FarmMedia MarketsFarm – The ICE Futures canola market bounced back on Friday morning, supported by vegetable oils.

Malaysian palm oil rose sharply, while Chicago soyoil and European rapeseed also made substantial gains. However, waning Chinese demand, fears of a surplus and a stronger United States dollar pulled back crude oil prices.

The Canadian dollar was down two-tenths of a United States cent compared to Thursday’s close.

Nearly 13,800 contracts were traded. Prices in Canadian dollars per metric ton as of 8:36 CST:

Jan.  637.60  up 10.00

Mar.  651.00  up 10.20

May   660.70  up 10.30

Jul.  664.50  up  9.40