WINNIPEG, Manitoba -- The ICE Futures canola market was stronger Friday morning, seeing a continuation of Thursday's corrective bounce off nearby lows.
The January contract was nearing a technical target at C$680 per metric ton.
Gains in outside markets provided spillover support, with the Chicago soy complex, European rapeseed and Malaysian palm oil all moving higher.
The U.S. Department of Agriculture releases its monthly supply/demand estimates at 11:00 CST, with any surprises in the data likely to set the tone in the grains and oilseeds ahead of the close.
About 16,800 canola contracts had traded as of 9:46 EST.
Canola prices in Canadian dollars per metric ton at 9:46 EST:
Month Price Change
Jan 673.60 up 7.00
Mar 681.30 up 6.10
May 688.40 up 5.60
Jul 693.10 up 4.80
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
12-08-23 1016ET
