ICE canola lacking direction

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market was narrowly mixed on Tuesday morning despite positive sentiment in comparable oils.

While Chicago soyoil stayed put, European rapeseed and Malaysian palm oil were higher. Crude oil was also on the rise despite United States President Donald Trump imposing 25 per cent tariffs on steel and aluminum imports.

The U.S. Department of Agriculture will release its monthly supply/demand estimates later this morning.

The Canadian dollar was up less than one-tenth of a U.S. cent compared to Monday’s close.

Nearly 17,000 contracts were traded. Prices in Canadian dollars per metric ton as of 8:36 CST:

Mar.  661.80  unchanged

May   671.70  unchanged

Jul.  676.10  dn  0.20

Nov.  652.00  up  0.50