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ICE canola futures: canola gains strength midweek

By Marlo Glass, MarketsFarm

WINNIPEG, March 25 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were stronger on Wednesday morning, gleaning spillover support from comparable vegetable oils.

Malaysian palm oil, European rapeseed, and soybeans on the Chicago Board of Trade are all stronger today. Financial markets and crude oil have also gained strength, though concerns of COVID-19’s impact on the global economy still linger.

The Canadian dollar remained below 70 U.S. cents, giving canola values a bit of a boost.

About 4,500 canola contracts had traded as of 8:40 CDT.

Prices in Canadian dollars per metric ton at 8:40 CDT:

                          Price      Change
Canola      May 469.00 up 1.50
Jul 477.10 up 1.10
Nov 484.80 up 1.40
Jan 491.60 up 1.70

Commodity Future Prices

Canola
Price Change

Prices are in Canadian dollars per metric ton

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