WINNIPEG, Manitoba--The ICE Futures canola market was mostly lower Thursday morning amid mixed sentiment in comparable oils.
Chicago soyoil and Malaysian palm oil both traded in the red, while European rapeseed was in positive territory. Crude oil was steady as speculation of OPEC+ increasing output was offset by a large draw in U.S. inventories and greater demand from China.
The Canadian dollar was up nearly one-tenth of a U.S. cent compared with Thursday's close.
Roughly 14,100 contracts were traded. Prices in Canadian dollars per metric ton as of 8:40 a.m. CDT:
Price Change Canola Jul 655.80 dn 0.90 Nov 673.10 dn 0.30 Jan 678.50 dn 0.40 Mar 683.60 up 1.70
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
05-09-24 1006ET