ICE Canada Morning Comment : ICE Canola Rising

WINNIPEG, Manitoba--ICE canola futures were stronger Friday morning, taking some direction from crude oil and Chicago soyoil.

Ongoing uncertainty over the war in the Middle East continued to keep some caution in the world energy markets, with the bias higher in crude oil for the time being.

New measures to support farmers in the U.S., including biofuel blending requirements, are expected to be announced by President Donald Trump later Friday. Any reaction in the Chicago soy complex will likely spill into the canola market.

The nearby technical trends remain pointed higher for canola, with the May contract at its highest levels in two weeks.

The Canadian dollar was slightly softer Friday morning, after losing three-quarters of a cent relative to its U.S. counterpart over the past week.

About 15,900 canola contracts had traded as of 9:45 a.m. ET.

Prices in Canadian dollars per metric tonne at 9:45 a.m. ET:

Canola 
           Price      Change 
May       730.50     up 1.10 
Jul       743.30     up 0.90 
Nov       737.90     up 1.10 
Jan       744.50     up 1.60 
 

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

(END) Dow Jones Newswires

03-27-26 1013ET