ICE Canola Futures Increase on Fourth of July

WINNIPEG, Manitoba--Intercontinental Exchange canola futures were steady-to-higher on Thursday amidst weaker comparable oils and lighter trading.

European rapeseed and Malaysian palm oil were down. Crude oil was slightly lower despite fewer United States stockpiles and the severity of Hurricane Beryl. Chicago soyoil wasn't traded as U.S. markets will be closed for most of the day due to Independence Day.

The Canadian dollar was up one-tenth of a U.S. cent compared to Wednesday's close.

One analyst said despite lower trade volumes today, canola prices were still being dictated by vegetable oils.

About 21,600 contracts have traded at 10:09 CDT. Prices in Canadian dollars per metric ton:

 
                Price   Change 
Canola    Nov   652.90  up 0.20 
          Jan   662.60  up 0.10 
          Mar   669.30  up 1.00 
          May   674.30  up 2.1 
 

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

(END) Dow Jones Newswires

07-04-24 1145ET