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ICE Canola Climbing Higher Friday Morning

01/28/2022 | 10:22am EDT

WINNIPEG, Manitoba--The ICE Futures canola market was stronger Friday morning, with speculative buying a feature amid a number of supportive influences.

The Chicago Board of Trade soy complex was up sharply in early activity, with soyoil hitting fresh contract highs. Malaysian palm oil and European rapeseed futures were also up overnight.

Meanwhile, the Canadian dollar was weaker, having lost nearly two cents relative to its U.S. counterpart over the past week. The falling currency underpins crush margins and makes exports more attractive to international buyers.

About 5,300 canola contracts had traded as of 9:40 EST.

 
Prices in Canadian dollars per metric ton at 9:40 EST: 
 
                          Price      Change 
Canola            Mar   1,022.80     up 15.70 
                  May   1,012.20     up 13.20 
                  Jul     987.90     up 11.30 
                  Nov     839.00     up  7.40 
 

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

01-28-22 1022ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) 0.40% 0.91034 Delayed Quote.-1.07%
BRITISH POUND / CANADIAN DOLLAR (GBP/CAD) -0.26% 1.60741 Delayed Quote.-5.73%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) 0.38% 99.861 Delayed Quote.9.25%
CANADIAN DOLLAR / SWISS FRANC (CAD/CHF) 0.25% 0.75151 Delayed Quote.3.89%
CRUDE PALM OIL -0.41% 1446.75 End-of-day quote.31.44%
EURO / CANADIAN DOLLAR (EUR/CAD) -0.40% 1.36554 Delayed Quote.-4.53%
LONDON BRENT OIL 1.52% 119.2 Delayed Quote.50.58%
NEW ZEALAND DOLLAR / CANADIAN DOLLAR (NZD/CAD) 0.45% 0.83155 Delayed Quote.-4.20%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) 0.00% 1.2724 Delayed Quote.1.11%
WTI 0.94% 115.083 Delayed Quote.51.34%
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