WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange were trading lower Friday morning.
Losses in Malaysian palm oil and Chicago soyoil weighed on canola values, while support came from gains in MATIF rapeseed as well as Chicago soybeans and soymeal. Crude oil was either side of unchanged, offering little direction to the vegetable oils.
The May canola contract remained below its 20-day moving average, but well ahead of its other technical levels.
Canola crush margins were little changed, with the May position holding at C$334 per tonne above the futures.
There was no spillover for canola from Thursday's supply and demand estimates issued by the U.S. Department of Agriculture. That included the USDA maintaining its forecast on 2026/27 Canadian canola production at 22 million tonnes in its world oilseed report.
The Canadian dollar nudged upward Friday morning, with the loonie at 72.42 U.S. cents, compared with Thursday's close of 72.35.
Approximately 11,700 contracts had been traded by 9:39 a.m. EDT and prices in Canadian dollars per metric ton were:
Price Change
May 706.60 dn 2.10
Jul 719.70 dn 2.20
Nov 718.50 dn 1.20
Jan 725.40 dn 1.70
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
04-10-26 1001ET
