WINNIPEG, Manitoba--Intercontinental Exchange canola futures pushed higher on Wednesday morning, due to spillover from comparable oils.
Support come from Chicago soybeans and soyoil, European rapeseed and Malaysian palm oil, but Chicago soymeal eased back. Moderate upticks in global crude oil prices were spilling over into the vegetable oils.
Canola crush margins held firm with the nearby January and March positions more than C$200 per tonne above the futures.
The Canadian dollar was a pinch higher on Wednesday morning with the loonie at 74.99 U.S. cents, compared to Tuesday's close of 74.94.
The last day trading for January canola options is Dec. 22, with first notice day for January futures set for Dec. 29.
Approximately 7,850 contracts had traded by 8:39 CST and prices in Canadian dollars per metric ton were at:
Canola
Price Change
Jan 645.30 up 2.40
Mar 658.90 up 2.40
May 668.00 up 2.20
Jul 674.20 up 1.40
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
12-20-23 1005ET
