ICE canola shows positive momentum

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market continued its slow rally on Thursday morning, deriving strength from comparable oils.

Chicago soyoil and Malaysian palm oil were up while European rapeseed was mostly higher. Crude oil was also making gains, influenced by potential trade discussions between the United States and China.

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

Nearly 7,700 contracts were traded. Prices in Canadian dollars per metric ton as of 8:36 CDT:

May   679.10  up  3.10

Jul.  685.20  up  2.90

Nov.  655.10  up  2.20

Jan.  660.00  up  1.70