ICE canola maintains positive momentum

Glacier FarmMedia MarketsFarm – The ICE Futures canola market continued to move upwards on Thursday morning, but gains were limited by weakness in comparable oils.

While Chicago soyoil was higher, European rapeseed and Malaysian palm oil were lower. Crude oil rose sharply yet again due to ongoing tensions in the Middle East.

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

Approximately 13,200 contracts were traded. Prices in Canadian dollars per metric ton as of 8:37 CDT:

Nov.  619.70  up  1.80

Jan.  633.60  up  2.10

Mar.  644.50  up  1.60

May   652.40  up  2.70