ICE Midday: Canola advancing on crude, soyoil

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market was in positive territory on Tuesday, gaining support from crude oil and Chicago soyoil.

An analyst said new sanctions of Russia’s oil fleet are raising the price of crude, while Chicago soyoil was moving up. However, European rapeseed and Malaysian palm oil were lower.

The Canadian dollar was steady compared to Monday’s close.

About 25,300 canola contracts have traded at 10:08 CDT. Prices in Canadian dollars per metric tonne:

Price          Change

Jul 712.40     up  2.40

Nov 695.10     up  1.20

Jan 702.50     up  1.80

Mar 707.80     up  1.70