ICE Canola Turns Higher

WINNIPEG--The ICE Futures canola market was posting small gains in most months Tuesday morning, recovering from earlier losses as a rally in Chicago soyoil provided support.

Malaysian palm oil also was stronger, although European rapeseed futures were narrowly mixed.

Canadian canola stocks as of Dec. 31, 2022, came in at 11.4 million tonnes, according to a report from Statistics Canada. That was up by 29% from the same time a year ago, but slightly off average trade guesses.

About 6,800 canola contracts had traded as of 9:44 a.m. ET.

Prices in Canadian dollars per metric ton at 9:44 a.m. ET:

    Price  Change 
Canola 
Mar 835.10 up 1.60 
May 832.70 up 1.90 
Jul 832.50 up 2.10 
Nov 810.20 dn 0.90 

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

(END) Dow Jones Newswires

02-07-23 1011ET