By Marlo Glass, MarketsFarm
WINNIPEG, Sept. 16 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were higher Wednesday morning, spurred by a stronger tone for comparable vegetable oils.
Nearby soyoil contracts were up by about two tenths of a cent, and Malaysian palm oil and European rapeseed were higher in early morning trade as well.
The Canadian dollar dropped below 76 United States cents due to comparable weakness in the greenback, which also was supportive of canola prices.
About 10,000 canola contracts had traded as of 8:45 CDT.
Prices in Canadian dollars per metric ton at 8:45 CDT:
Canola Nov 520.50 dn 2.80
Jan 527.50 dn 2.80
Mar 533.20 dn 3.10
May 534.80 dn 2.00
Futures Prices as of September 16, 2020
Prices are in Canadian dollars per metric ton