ICE canola treading above unchanged

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market was slightly higher on Tuesday morning while comparable oils were lower.

Chicago soyoil and Malaysian palm oil were down while European rapeseed was mostly lower. Crude oil also continued to decline due to an economic slowdown in China and in anticipation of the United States Federal Reserve’s interest rate announcement tomorrow.

The Canadian dollar gave up two-tenths of a U.S. cent compared to Monday’s close.

Nearly 14,000 contracts were traded. Prices in Canadian dollars per metric ton as of 8:37 CST:

Jan.  603.00  up  1.90

Mar.  612.30  up  2.20

May   620.70  up  2.80

Jul.  623.10  up  2.70