ICE canola rises to start Tuesday

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market made double-digit gains on Tuesday morning, supported by rising comparable oils.

Chicago soyoil, European rapeseed and Malaysian palm oil were all in positive territory. Crude oil was up US$1 per barrel after OPEC+ announced it will extend its supply cuts to March.

The Canadian dollar was up one-tenth of a United States cent compared to Monday’s close, capping gains.

Nearly 12,700 contracts were traded. Prices in Canadian dollars per metric ton as of 8:36 CST:

Jan.  593.50  up 11.90

Mar.  604.50  up 10.80

May   615.20  up 10.60

Jul.  617.60  up  9.80