ICE canola down by double-digits

Glacier FarmMedia MarketsFarm – The ICE Futures canola market continued to be under pressure on Tuesday morning from comparable oils.

Chicago soyoil and European rapeseed were both down to start the day, while crude oil was also lower due to softening demand. However, Malaysian palm oil was slightly higher.

The Canadian dollar was steady compared to Monday’s close. The United States Federal Reserve will make its latest key interest rate decision on Wednesday.

Roughly 13,900 contracts were traded. Prices in Canadian dollars per metric ton as of 8:34 CDT:

Nov.  620.90  dn 14.00

Jan.  629.90  dn 13.40

Mar.  636.90  dn 13.30

May   640.20  dn 14.60