ICE Canola Back In The Red

WINNIPEG, Manitoba--The ICE Futures canola market showed some weakness on Wednesday morning despite positive sentiment in comparable oils.

Chicago soyoil, European rapeseed and Malaysian palm oil are climbing higher. Crude oil is gaining more than US$1 per barrel after a report suggested a substantial decline in United States stockpiles.

The Canadian dollar was up less than one-tenth of a United States cent compared to Tuesday's close.

Nearly 8,100 contracts were traded. Prices in Canadian dollars per metric ton as of 9:38 a.m. ET:

Canola 
        Price    Change 
May     623.90   dn 3.80 
Jul.    632.10   dn 3.90 
Nov.    637.60   dn 4.30 
Jan.    644.80   dn 4.60 
 

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

(END) Dow Jones Newswires

03-13-24 1018ET