ICE canola’s downturn continues

Glacier FarmMedia | MarketsFarm – Canola futures were lower on Tuesday, following comparable oils to the downside.

Chicago soyoil, European rapeseed and Malaysian palm oil were lower to start the day. Crude oil was down by more than US$3 Tuesday morning, after losing US$5 per barrel on Monday.

The Canadian dollar was up nearly one-quarter of a U.S. cent compared to Monday’s close.

Statistics Canada will release its next principal field crop report on Friday.

Nearly 20,600 contracts were traded. Prices in Canadian dollars per metric ton as of 8:36 CDT:

Jul  703.60  dn 18.00

Nov  707.10  dn 17.90

Jan  714.90  dn 17.30

Mar  720.50  dn 16.60