By Glen Hallick, MarketsFarm
WINNIPEG, Nov. 3 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were higher on Tuesday morning, as the market was correcting from yesterday’s losses.
The Chicago soy complex was stronger, including soyoil being up by seven-tenths of a cent. Higher European rapeseed and Malaysian palm oil values were supportive as well.
A stronger Canadian dollar was tempering further increases in canola. The loonie was at 76.13 U.S. cents, compared to Monday’s close of 75.43.
About 3,400 canola contracts had traded as of 8:41 CST.
Prices in Canadian dollars per metric tonne at 8:41 CST:
Price Change
Canola Jan 540.00 up 5.10
Mar 544.60 up 4.60
May 544.10 up 5.70
Jul 541.50 up 4.70
