ICE Midday: Canola climbing slowly

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market was slightly higher on Thursday, receiving support from comparable oils.

Chicago soyoil, European rapeseed and Malaysian palm oil were all higher. However, crude oil was down after OPEC+ cut its 2025 world demand forecast.

The Canadian dollar was down more than one-tenth of a United States cent compared to Wednesday’s close. The Bank of Canada cut its key interest rate by 50 basis points on Wednesday.

About 46,000 contracts have traded at 10:14 CST. Prices in Canadian dollars per metric tonne:

Price          Change

Jan 624.50     up  2.40

Mar 633.40     up  2.70

May 638.40     up  1.40

Jul 640.00     up  0.40