ICE Morning Comment : Canola Struggling to Find Direction

WINNIPEG, Manitoba--The ICE Futures canola market is mixed on Tuesday morning with gains in the nearby May contract and losses in the deferreds.

Chicago soyoil was slightly lower, while European rapeseed and Malaysian palm oil were higher. Crude oil was down one day after prices surged due to curbed exports from the Iraqi region of Kurdistan.

The Canadian dollar was up more than one-tenth of a United States cent compared to Monday's close. The federal Liberal government will unveil its latest budget at 3 p.m. CDT.

Prices in Canadian dollars per metric ton as of 8:42 CDT:

 
            Price      Change 
Canola 
   May      750.70     up 4.50 
   Jul.     742.00     dn 0.10 
   Nov.     714.00     dn 2.50 
   Jan.     717.60     dn 2.20 
 

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

(END) Dow Jones Newswires

03-28-23 1012ET