ICE Canola Inches Lower

WINNIPEG, Manitoba--The ICE Futures canola market was mostly lower Thursday morning amid mixed sentiment in comparable oils.

Chicago soyoil and Malaysian palm oil both traded in the red, while European rapeseed was in positive territory. Crude oil was steady as speculation of OPEC+ increasing output was offset by a large draw in U.S. inventories and greater demand from China.

The Canadian dollar was up nearly one-tenth of a U.S. cent compared with Thursday's close.

Roughly 14,100 contracts were traded. Prices in Canadian dollars per metric ton as of 8:40 a.m. CDT:

 
                  Price    Change 
Canola       Jul  655.80  dn  0.90 
             Nov  673.10  dn  0.30 
             Jan  678.50  dn  0.40 
             Mar  683.60  up  1.70 
 
 

Source: Commodity News Service Canada, [e-mail]

(END) Dow Jones Newswires

05-09-24 1006ET