Glacier FarmMedia – Canola futures on the Intercontinental Exchange on Thursday were recovering from Wednesday’s losses, supported by crude and vegetable oils.
United States President Donald Trump delivered a televised address on Wednesday, saying U.S. forces could hit Iran hard over the next two to three weeks. He stopped short of saying when he expects the war to end. Crude oil surged between US$8 to US$14 per barrel this morning.
Chicago soyoil gained more than one U.S. cent per pound, while European rapeseed and Malaysian palm oil were also higher.
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The Canadian dollar was down more than one-tenth of a U.S. cent compared to Wednesday’s close.
There will be no trading on Friday due to the Good Friday holiday.
Nearly 19,400 contracts were traded. Prices in Canadian dollars per metric ton as of 8:40 CDT:
May 729.60 up 11.10
Jul 743.10 up 11.30
Nov 736.20 up 10.70
Jan 741.70 up 10.30
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