ICE canola on both sides of unchanged

Glacier FarmMedia MarketsFarm – The ICE Futures canola market was mixed on Friday morning despite mostly positive sentiment in comparable oils.

Chicago soyoil and European rapeseed were higher, while crude oil was also in the green due to rising chances of key interest rate cuts by the United States Federal Reserve. However, Malaysian palm oil was lower.

The Canadian dollar was up three-tenths of a U.S. cent compared to Thursday’s close. Statistics Canada reported earlier today that the country added 90,000 jobs in April with the unemployment rate remaining at 6.1 per cent.

The U.S. Department of Agriculture will release its monthly World Agricultural Supply/Demand Estimates later today.

Roughly 7,500 contracts were traded. Prices in Canadian dollars per metric ton as of 8:45 CDT:

Jul.  651.50  up  0.20

Nov.  670.50  dn  0.60

Jan.  676.50  dn  0.90

Mar.  681.00  up  0.50