ICE Canadian canola futures rose on Thursday, tagging along with US crop price gains as weather in the US Midwest looked to turn unfavorably hot. Concerns linger about the developing Canadian canola crop as well. 61 percent of Saskatchewan oilseeds are developing normally, but some areas are too dry, the government of the Canadian province said.
November canola gained $2.90 to $510.40 per tonne. November-January canola spread traded 322 times. Chicago November soybeans rose on forecasts for scorching temperatures in the US Midwest. NYSE MATIF August rapeseed eased and Malaysian August palm oil rose. The Canadian dollar was trading at $1.2571 to the US dollar, or 79.55 US cents at 12:54 pm CDT (1754 GMT).
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