WINNIPEG, Manitoba--The ICE Futures canola market continued its recent rise Tuesday morning, aided by largely positive sentiment in vegetable oils.

European rapeseed was up while Malaysian palm oil was mostly higher. However, Chicago soyoil was slightly lower and crude oil was steady.

The average value of Canadian farmland increased by 11.5% in 2023, compared with 12.8% in 2022, according to Farm Credit Canada's Farmland Values Report. Farmland value in Saskatchewan rose the highest at 15.7%, while Manitoba's went up by 11.1% and Alberta's increased by 6.5%.

The Canadian dollar was down less than one-tenth of a U.S. cent compared with Monday's close.

Nearly 6,700 contracts were traded.


Prices in Canadian dollars per metric ton as of 8:40 a.m. CDT: 


 
                 Price    Change 
Canola      May  620.90  up 5.20 
            Jul  628.50  up 5.20 
            Nov  634.10  up 5.10 
            Jan  639.80  up 3.40

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


(END) Dow Jones Newswires

03-12-24 1009ET