WINNIPEG–ICE canola futures posting small gains Friday morning, continuing their steady uptrend.
- Gains in Chicago soyoil provided spillover support, with that market at its highest levels in five months.
- Soybeans and European rapeseed futures were also higher, although Malaysian palm oil was lower.
- Canada exported 288,200 tonnes of canola during the week ended Jan. 18, which was up from 112,600 tonnes the previous week. Crop year-to-date exports of about 3.2 million tonnes are roughly 2.1 million tonnes off the year ago pace.
- Optimism that exports will pick up when Chinese tariffs are lowered in March after a deal was reached last week remained supportive.
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By Glen Hallick Glacier FarmMedia – Intercontinental Exchange canola futures closed out Friday on a positive note after bouncing either…
- About 23,000 canola contracts had traded as of 9:16 EST.
Prices in Canadian dollars per metric tonne at 9:16 EST:
Canola Mar 649.30 up 1.90
May 659.10 up 1.40
Jul 666.10 up 1.50
Nov 657.80 up 1.60
Source: MarketsFarm (Phil Franz-Warkentin, [email protected], or 204-414-9084)
