ICE canola eases off

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market was posting small losses Friday morning, backing away from overnight gains after running into resistance. The nearby July contract traded above the psychological C$700 per tonne level in overnight trade, but failed to hold above that key chart point.

Chicago soyoil and Malaysian palm oil were higher to start the day, but European rapeseed was going in both directions. Tariff uncertainty and a growing supply caused crude oil prices to decline.

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

Nearly 18,500 contracts were traded. Prices in Canadian dollars per metric ton as of 8:39 CDT:

May   689.90  dn  2.50

Jul.  695.50  dn  1.90

Nov.  656.20  dn  0.90

Jan.  660.40  dn  0.70