Glacier FarmMedia – Canola futures on the Intercontinental Exchange continued to rally, fuelled by comparable oils.
Chicago soyoil, European rapeseed and Malaysian palm oil made gains to start the day. Meanwhile, crude oil was also higher due to the weaker U.S. dollar, the arrival of U.S. warships to the Middle East and continued disruptions at the Kenzig oilfield in Kazakhstan.
The Canadian dollar was up nearly four-tenths of a U.S. cent compared to Tuesday’s close.
Nearly 17,800 contracts were traded. Prices in Canadian dollars per metric ton as of 8:45 CST:
Mar 650.00 up 3.30
May 660.80 up 3.30
Jul 667.40 up 3.90
Nov 660.10 up 3.90
Source: MarketsFarm (Adam Peleshaty, [email protected], or 204-414-9084)
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