ICE canola erases Tuesday’s losses

The ICE Futures canola market rebounded on Wednesday morning due to rising vegetable oil prices.

Chicago soyoil, European rapeseed and Malaysian palm oil were all in positive territory. Meanwhile, crude oil was slightly lower after Tuesday’s price drop.

The Canadian dollar was up more than one-tenth of a United States cent compared to Tuesday’s close.

Approximately 14,300 contracts were traded. Prices in Canadian dollars per metric ton as of 8:37 CDT:

Nov.  612.50  up 14.40

Jan.  623.10  up 13.30

Mar.  633.80  up 12.90

May   642.10  up 12.80