ICE canola moves upward

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market was up on Tuesday morning, the day before United States President Donald Trump imposes potential tariffs on Canadian imports.

Chicago soyoil was higher, but European rapeseed was mostly lower. Crude oil saw slight gains as the oil industry awaits the effects of the tariffs. Malaysian palm oil hasn’t traded since Friday due to a holiday.

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

Nearly 13,000 contracts were traded. Prices in Canadian dollars per metric ton as of 8:45 CDT:

May   615.80  up  3.30

Jul.  622.80  up  3.90

Nov.  620.50  up  2.50

Jan.  629.40  up  2.40