ICE Morning Commentary : ICE Canola Bounces Back

WINNIPEG, Manitoba--The ICE Futures canola market made its way back into positive territory Thursday morning, supported by comparable oils.

There were sharp gains in Chicago soyoil and Malaysian palm oil, while European rapeseed also was higher. Crude oil moved slightly upward.

The Canadian dollar was steady compared with Wednesday's close. The Bank of Canada announced Wednesday it's cutting its key lending rate by 25 basis points at 4.75%.

Roughly 23,200 contracts were traded. Prices in Canadian dollars per metric ton as of 9:40 a.m. ET:

Canola 
     Price  Change 
Jul. 627.40 up 10.40 
Nov. 652.50 up 10.50 
Jan. 659.30 up 9.80 
Mar. 663.00 up 7.80 

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

(END) Dow Jones Newswires

06-06-24 1008ET