Tariffs topple ICE canola

The ICE Futures canola market retreated on Tuesday morning after United States President Donald Trump imposed tariffs on Canadian, Mexican and Chinese goods starting today.

The tariffs were also felt in other markets. Chicago soyoil, European rapeseed and Malaysian palm oil were all in the red, while crude oil also declined.

Despite a weakened U.S. dollar, the Canadian dollar was down more than one-tenth of a U.S. cent compared to Monday’s close.

Nearly 22,300 contracts were traded. Prices in Canadian dollars per metric ton as of 8:40 CST:

May   633.10  dn 12.80

Jul.  641.10  dn 12.80

Nov.  627.60  dn 11.30

Jan.  635.70  dn 10.10