By Marlo Glass, MarketsFarm
WINNIPEG, May 27 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were higher on Wednesday, thanks to strength from comparable vegetable oils.
The Chicago soy complex showed strength this morning, as well as Malaysian palm oil and European rapeseed.
Relative strength in the Canadian dollar hampered further gains for canola. The Canadian dollar was just over 72.6 U.S. cents on Wednesday morning.
About 2,300 canola contracts had traded as of 8:35 CDT.
Prices in Canadian dollars per metric ton at 8:35 CDT:
Price Change
Canola Jul 467.10 up 2.30
Nov 474.80 up 2.90
Jan 481.20 up 2.80
Mar 487.50 up 3.20
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