ICE canola in decline heading into weekend

Glacier FarmMedia MarketsFarm – The ICE Futures canola market is showing some weakness on Friday morning, being pulled down by vegetable oils.

Chicago soyoil, European rapeseed and Malaysian palm oil were all down to start the day. However, crude oil was making small gains.

The Canadian dollar was up nearly one-tenth of a United States cent compared to Thursday’s close.

Approximately 11,200 contracts were traded. Prices in Canadian dollars per metric ton as of 8:34 CDT:

Nov.  555.50  dn  6.00

Jan.  569.40  dn  5.40

Mar.  581.80  dn  5.00

May   592.20  dn  4.00