WINNIPEG, Manitoba--The ICE Futures canola market looked to end the week on a positive note, supported by comparable oils.
Chicago soyoil, European rapeseed and Malaysian palm oil were all trading higher Friday. Crude oil was up due to tightened U.S. stockpiles and signs of a slowdown in inflation. There will be no trading in Canada Monday due to Victoria Day while markets in the U.S. will trade their usual hours.
The Canadian dollar was unchanged compared with Thursday's close.
The Prairies will see heavy rains over the next five days. Areas from northeastern Alberta to central Manitoba should see 35 millimeters to 65 mm, while southern areas of the Prairies could see 10 mm to 25 mm.
Roughly 10,300 contracts were traded. Prices in Canadian dollars per metric ton as of 9:45 a.m. ET:
Canola
Price Change
Jul. 661.00 up 9.50
Nov. 681.30 up 9.10
Jan. 689.60 up 7.80
Mar. 696.70 up 7.10 Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
05-17-24 1011ET
