ICE canola climbs higher

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market moved higher on Tuesday morning, following the lead of comparable oils.

Chicago soyoil, European rapeseed and Malaysian palm oil were in positive territory, while crude oil also continued its upward momentum from Monday.

The United States and China announced on Monday that the two countries will sharply reduce tariffs on the other’s goods for 90 days, bringing a boost to the markets.

The Canadian dollar was steady compared to Monday’s close.

Nearly 18,200 contracts were traded. Prices in Canadian dollars per metric ton as of 8:37 CDT:

Jul  714.00  up  3.40

Nov  679.10  up  2.30

Jan  686.00  up  2.00

Mar  693.00  up  2.50