ICE canola lower with vegetable oils

WINNIPEG – For the second straight day, the ICE Futures canola market was down at the start of trading due to spillover from vegetable oils.

Chicago soyoil was steady, but European rapeseed and Malaysian palm oil were both lower on Tuesday morning.

Meanwhile, crude oil continued its rally from Monday after China rescinded all of its COVID-19 restrictions for the first time since the start of the pandemic.

The Canadian dollar was down less than one-tenth of a United States cent compared to Monday’s close.

Prices in Canadian dollar per metric ton as of 8:42 CST:

Mar.  850.20  dn  8.40

May   845.30  dn 10.10

Jul.  845.10  dn 10.70

Nov.  813.50  dn 10.10