By Glen Hallick, MarketsFarm
WINNIPEG, April 29 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were higher on Wednesday morning in the most active months. The nearby May contract was lower as traders exited the thinly traded contract ahead of its expiry.
Canola was getting support from Chicago soyoil and European rapeseed. Malaysian palm oil was steady.
Rain over southern parts of Manitoba and Saskatchewan could slow spring planting and harvesting a little bit. Otherwise, warmer temperatures across the Prairies will spur on field operations.
The COVID-19 pandemic remains a bearish influence on all markets.
The Canadian dollar was higher this morning at 71.78 U.S. cents, compared to Tuesday’s close of 71.54.
About 5,300 canola contracts had traded as of 8:53 CST.
Prices in Canadian dollars per metric tonne at 8:53 CST:
Price Change
Canola Jul 463.60 up 1.90
Nov 471.10 up 1.90
Jan 477.70 up 2.20
Mar 483.10 up 2.00
