ICE canola claws back from Tuesday’s losses

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market is correcting itself after Tuesday’s plunge due to tariffs implemented by United States President Donald Trump. However, there is speculation the tariffs could be rolled back.

Meanwhile, Chicago soyoil and European rapeseed are down while Malaysian palm oil is up. Crude oil continued to fall in part due to planned output hikes by OPEC+.

The Canadian dollar is up half a U.S. cent compared to Tuesday’s close.

Nearly 21,600 contracts were traded. Prices in Canadian dollars per metric ton as of 8:35 CST:

May   624.30  up  3.00

Jul.  634.20  up  3.60

Nov.  622.60  up  1.40

Jan.  630.30  up  1.40