ICE Canola Retreats From Monday Gains

WINNIPEG, Manitoba--The ICE Futures canola market pulled back Tuesday morning from its solid gains Monday due to weakness in vegetable oils and a stronger Canadian dollar.

Chicago soyoil, European rapeseed and Malaysian palm oil were all lower Tuesday morning. Crude oil, however, was slightly higher due to impending supply cuts from OPEC+.

The loonie was up more than one-tenth of a U.S. cent compared with Monday's close.

Nearly 8,500 contracts were traded.

Prices in Canadian dollars per metric ton as of 8:38 CDT:

 
                   Price    Change 
Canola        May  642.60  dn 7.10 
              Jul  651.40  dn 8.00 
              Nov  658.60  dn 7.40 
              Jan  665.90  dn 7.50 
 
 

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

(END) Dow Jones Newswires

03-26-24 1005ET