ICE Canola Falls Amid Mixed Oil Sentiment
Canola futures on the Intercontinental Exchange (ICE) fell on Thursday morning due to mixed sentiment in comparable oils. The ICE canola price dropped as crude oil prices rose on reports that China will not export fuel in October. European rapeseed was higher, but Chicago soyoil and Malaysian palm oil were lower.
The Bank of Canada did not post a closing rate on Wednesday, the National Day For Truth and Reconciliation, which is why there was no canola trading. The Canadian dollar was down one-quarter of a U.S. cent from Tuesday's close.
Nearly 27,700 contracts were traded, with prices in Canadian dollars per metric ton as follows: Nov at $815.30 (down $8.40), Jan at $828.40 (down $8.70), Mar at $837.70 (down $8.50), and May at $841.70 (down $7.30).