ICE Canola Climbs on Support From Comparable Oils

WINNIPEG, Manitoba--The ICE Futures canola market was slightly higher on Thursday, receiving support from comparable oils.

Chicago soyoil, European rapeseed and Malaysian palm oil were all higher. However, crude oil was down after OPEC+ cut its 2025 world demand forecast.

The Canadian dollar was down more than one-tenth of a U.S. cent compared to Wednesday's close. The Bank of Canada cut its key interest rate by 50 basis points on Wednesday.

 
About 46,000 contracts have traded at 10:14 CST. Prices in Canadian dollars per metric ton: 
 
Canola     Price        Change 
 Jan       624.50       up 2.40 
 Mar       633.40       up 2.70 
 May       638.40       up 1.40 
 Jul       640.00       up 0.40 
 

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

(END) Dow Jones Newswires

12-12-24 1145ET