ICE canola moving higher with comparable oils

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market found some strength on Thursday morning, finding support from comparable oils.

Chicago soyoil and European rapeseed were on the rise to start the day, while Malaysian palm oil was mostly higher. Crude oil also made gains despite a warning from the International Energy Agency about a potential increase in supply.

The Canadian dollar was down more than one-tenth of a United States cent compared to Wednesday’s close.

Nearly 11,100 contracts were traded. Prices in Canadian dollars per metric ton as of 8:45 CST:

Jan.  653.00  up  3.90

Mar.  665.00  up  3.50

May   671.80  up  3.10

Jul.  672.80  up  2.90