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ICE Canola Falls With Crude Oil

08/30/2022 | 10:14am EST

WINNIPEG, Manitoba--The ICE Futures canola market continued to take a plunge Tuesday morning due to spillover from falling crude oil prices.

The Prairies were expected to see sunny skies over the next few days with temperatures exceeding 30 degrees Celsius in Alberta and Saskatchewan. In Calgary and Edmonton, heat warnings were in effect.

Crude oil dropped after Iraq said that violent clashes inside the country will not affect exports. On Monday, prices jumped due to production outages in Libya. Falling prices spilled over into Chicago soyoil, as well as European rapeseed and Malaysian palm oil. The Canadian dollar was slightly lower, down one-tenth of a United States cent.

About 8,200 canola contracts were traded as of 8:47 a.m. CDT.

 
Prices in Canadian dollar per metric ton as of 8:47: 
 
    Nov         824.90          dn 13.60 
    Jan         831.80          dn 14.00 
    Mar         836.40          dn 15.10 
    May         837.80          dn 15.20 
 

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

08-30-22 1013ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) 0.16% 0.91283 Delayed Quote.-0.05%
BRENT OIL -4.04% 79.53 Delayed Quote.6.41%
BRITISH POUND / CANADIAN DOLLAR (GBP/CAD) -0.02% 1.65607 Delayed Quote.-3.30%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) -0.15% 100.351 Delayed Quote.9.82%
CANADIAN DOLLAR / SWISS FRANC (CAD/CHF) -0.56% 0.6899 Delayed Quote.-3.49%
CRUDE PALM OIL 0.07% 741 End-of-day quote.-26.42%
EURO / CANADIAN DOLLAR (EUR/CAD) 0.19% 1.42908 Delayed Quote.-1.27%
NEW ZEALAND DOLLAR / CANADIAN DOLLAR (NZD/CAD) 0.41% 0.86251 Delayed Quote.-0.36%
S&P GSCI CRUDE OIL INDEX -4.08% 407.1576 Real-time Quote.6.34%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) 0.50% 1.3653 Delayed Quote.6.43%
WTI -3.93% 74.344 Delayed Quote.7.66%
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