ICE canola still rising

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market maintained its momentum from Thursday despite mixed sentiment in comparable oils.

Chicago soyoil and Malaysian palm oil were both higher, while European rapeseed was down. Crude oil was also in negative territory.

Statistics Canada released its principal field crop report on Thursday, cutting canola production by 1.1 million tonnes at 17.8 million.

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

Nearly 12,200 contracts were traded. Prices in Canadian dollars per metric ton as of 8:38 CST:

Jan.  597.00  up  6.80

Mar.  607.40  up  7.10

May   615.50  up  5.70

Jul.  618.30  up  5.30