ICE Close: Canola Lacks Direction Ahead of Weekend

Canola futures traded to both side of unchanged on Thursday, as a lower Canadian dollar was balanced off by little direction from edible oils.

Chicago soyoil was virtually unchanged while European rapeseed was slightly higher and Malaysian palm oil was down a little.

The markets have continued to keep an eye on China amid worries it could take additional punitive measures against Canada following Wednesday’s British Columbia court ruling that the extradition hearing for Huawei executive Meng Wanzhou will proceed.

According to the latest weekly Alberta crop report, canola planting in the province was about 74% complete as of Tuesday.

July canola was up 40 cents to $461.10, November slipped 30 cents to $470 and January was down 50 cents at $476.60.

Source: DePutter Publishing Ltd.

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