ICE canola takes a step back

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market underwent a correction on Wednesday morning to go with mixed sentiment in comparable oils.

Chicago soyoil and European rapeseed were in negative territory, while Malaysian palm oil was slightly higher. Crude oil was also on the upside with OPEC+ planning to maintain its supply cuts until March.

The Canadian dollar was down less than one-tenth of a United States cent compared to Tuesday’s close. Statistics Canada will release its principal field crop report on Thursday.

Nearly 11,500 contracts were traded. Prices in Canadian dollars per metric ton as of 8:36 CST:

Jan.  579.90  dn  7.00

Mar.  592.50  dn  6.40

May   602.70  dn  6.80

Jul.  607.00  dn  6.10