ICE Close: Canola Improves after Yesterday’s Tumble

Canola futures finished mixed on Friday, with only a small loss in the nearby March contract as trading volumes continued to spike upwards.

Sharp increases in European rapeseed and Malaysian palm oil aided the gains in canola, but losses in the Chicago soy complex weighed on values. Support for edible oils came from upticks in global crude oil prices. Tight supplies continued to underpin canola, but export demand has already been rationed considerably.

March canola was down $1.90 at $982.90, May gained 70 cents to $972 and new-crop November was up $4.50 to $800.30.

Source: DePutter Publishing Ltd.

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