Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were moving upward in the middle of lighter trading on Friday despite a lack of support from comparable oils.
European rapeseed was higher while Malaysian palm oil was lower. Crude oil was also in negative territory as the trade weighed in on OPEC+’s planned output hike in August.
The Canadian Grain Commission reported canola exports for the 2024-25 marketing year surpassed nine million tonnes during the week ended June 29, compared to 6.034 million one year earlier.
The United States markets are closed today for Independence Day.
The Canadian dollar was down nearly two-tenths of a U.S. cent compared to Thursday’s close, providing support for canola.
About 9,100 canola contracts have traded at 10:14 CDT. Prices in Canadian dollars per metric tonne:
Price Change
Nov 722.10 up 2.60
Jan 730.00 up 2.60
Mar 735.70 up 2.30
May 740.40 up 2.10
