ICE canola market awaits tariff announcement

The ICE Futures canola market was mixed on Wednesday ahead of the announcement of the reciprocal tariffs by United States President Donald Trump at 3 p.m. CDT.

European rapeseed and Malaysian palm oil all made gains on Wednesday morning, while Chicago soyoil was steady. Crude oil was slightly down as tariff concerns outweighed lower supply.

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

Nearly 12,700 contracts were traded. Prices in Canadian dollars per metric ton as of 8:39 CDT:

May   627.30  up  0.20

Jul.  633.30  up  0.50

Nov.  629.20  dn  1.20

Jan.  637.90  dn  1.00