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ICE Canola firms with veg oil

WINNIPEG, MB, May 17, 2018 (CNS), May 17, 2018 (Commodity News Service Canada, Inc. via COMTEX) --

Canola contracts on the ICE Futures Canada platform were stronger Thursday morning, following gains in vegetable oil and enjoying some follow-through buying.

Advances in Chicago Board of Trade soybeans were also bullish for canola futures.

The Canadian dollar was weaker, relative to its U.S. counterpart, which made canola more attractive to international buyers.

However, canola has become pricey relative to other oilseeds.

Seeding has generally progressed rapidly across Western Canada this week.

Prices in Canadian dollars per metric ton at 9:05 CDT:

                          Price      Change
Canola            Jul     530.30    up  1.30
                  Nov     517.00    up  1.50
                  Jan     521.90    up  1.70

Dave Sims, Commodity News Service Canada

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