ICE Midday : Canola, Crude Oil Rebounding

WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange were solidly in the green on Tuesday, recovering much of Monday's losses on the strength of comparable oils.

An analyst said a relative lack of news Tuesday has allowed little movement in commodities. However, the possibility of a delayed meeting between U.S. President Donald Trump and Chinese President Xi Jinping is still bearish. The analyst also said there is still uncertainty as to where crude oil prices will go.

Crude oil gained about US$1 per barrel, while Chicago soyoil was up nearly two U.S. cents per pound. European rapeseed also was higher, while Malaysian palm oil was down.

The Canadian dollar was down one-tenth of a U.S. cent compared with Monday's close.

The Bank of Canada's next key interest rate announcement will be Wednesday.

About 53,500 canola contracts have traded at 11:06 a.m. ET. Prices in Canadian dollars per metric tonne:

Canola 
           Price      Change 
May       723.10    up 20.50 
Jul       732.50    up 20.70 
Nov       720.00    up 21.30 
Jan       724.60    up 21.00 
 

Source: Commodity News Service Canada, [e-mail]

(END) Dow Jones Newswires

03-17-26 1138ET