WINNIPEG, Manitoba--Intercontinental Exchange (ICE) canola futures were stronger at midday Friday, due to good gains in the Chicago soy complex and European rapeseed, while Malaysian palm oil nudged a little higher.

Support for edible oils was coming from increases in global crude oil prices.

A trader said the production report from Statistics Canada released this morning had "maybe a little bit" of an effect on canola futures. He noted that product values were up $12 to $13, pretty much the same for canola.

Statistics Canada reduced its call on canola production from the 12.8 million tons the federal agency forecast in September, to 12.6 million.

The Canadian Grain Commission (CGC) reported for the week ending Nov. 28, producer deliveries of canola improved 21% over the previous week at 398,700 tons. Canola exports rose 7% at 226,300 tons and domestic usage was up 2.5% at 193,500 tons.

The Canadian dollar was virtually unchanged, with the loonie at 78.05 U.S. cents compared to Thursday's close of 78.03.

Approximately 8,950 canola contracts were traded as of 11:28 EST.

Prices in Canadian dollars per metric ton at 11:28 EST:


 
                       Price     Change 
 
Canola       Jan    1,031.50    up 8.90 
 
             Mar      997.20   up 12.10 
 
             May      955.50   up 14.00 
 
             Jul      904.80   up 13.30 
 
 

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

(END) Dow Jones Newswires

12-03-21 1158ET