By Marlo Glass, MarketsFarm
WINNIPEG, Oct. 6 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were higher on Tuesday morning, gleaning spillover support from comparable vegetable oils.
Nearby Chicago soyoil contracts were up by over a third of a cent in early morning trade, contributing to the higher tone for canola. Malaysian palm oil and European rapeseed were also stronger in early morning trade.
Slight losses in the Canadian dollar were also supportive for canola, as it was around 75.3 United States cents.
About 1,300 canola contracts had traded as of 8:40 CDT.
Prices in Canadian dollars per metric ton at 8:40 CDT:
Price Change
Canola Nov 524.60 up 4.20
Jan 530.60 up 3.80
Mar 536.80 up 3.60
May 539.80 up 2.70
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