ICE Midday: Canola begins the week higher
Glacier FarmMedia | MarketsFarm – The ICE Futures canola market turned around to climb into positive territory on Monday morning following unconfirmed reports that United States President Donald Trump was going to pause his tariffs on every country except China for 90 days. The White House later said such a move is not in the works.
An analyst said he doesn’t feel “any stability in the markets.” Meanwhile, another said the renewable diesel industry has “slammed the brakes,” awaiting guidance from the U.S. government.
Trump’s about-face pushed Chicago soybeans and soymeal higher, and there were gains in European rapeseed. Meanwhile, Chicago soyoil and Malaysian palm oil were lower, plus small declines in crude oil.
The Canadian dollar was steady compared to Friday’s close.
About 31,470 contracts have traded at 10:21 CDT. Prices in Canadian dollars per metric tonne:
Price Change May 625.80 up 3.80 Jul 630.90 up 4.20 Nov 619.20 up 4.00 Jan 628.30 up 5.00
