ICE canola just above unchanged

Glacier FarmMedia MarketsFarm – The ICE Futures canola market made small gains on Friday morning despite negative sentiment in comparable oils.

While European rapeseed was higher, Chicago soyoil and Malaysian palm oil were lower. Crude oil was also down due to forecasts showing weaker demand.

The Canadian dollar was steady compared to Thursday’s close.

Approximately 11,100 contracts were traded. Prices in Canadian dollars per metric ton as of 8:38 CDT:

Nov.  614.40  up  1.10

Jan.  623.80  up  1.40

Mar.  633.70  up  0.40

May   641.40  up  0.60