Glacier FarmMedia MarketsFarm – The ICE Futures canola market sunk to their lowest prices in three months on Tuesday morning due to insufficient support from comparable oils.
While Chicago soyoil was slightly higher, European rapeseed and Malaysian palm oil were down. Crude oil was also lower despite geopolitical conflicts in Yemen and Russia.
The Canadian dollar was up one-tenth of a United States cent compared to Monday’s close. Statistics Canada reported earlier today the country’s inflation rate slightly rose to 2.9 per cent in May.
Roughly 6,800 contracts were traded. Prices in Canadian dollars per metric ton as of 8:40 CDT:
Jul. 596.30 dn 4.40
Nov. 614.50 dn 3.30
Jan. 621.00 dn 3.20
Mar. 625.20 dn 3.00
