ICE Closing Review: Higher comparable oils spur more increases

Malaysian palm oil finished relatively steady and declines in Chicago soybeans and soymeal tempered canola’s upside. Jamie Wilton, a trader with R.J. O’Brien & Associates in Winnipeg, said the rolling out of the May contract also influenced canola. While the July canola contract remained below its 20-day average, it climbed further above its 50-day average. Canola crush margins were also on the rise, with the July position adding about C$13 at more than C$323 per tonne above the futures. Agriculture and Agri-Food Canada is scheduled to issue its next supply and demand estimates. The trade will be looking for any notable changes from the March report. The Canadian dollar was higher on ...