WINNIPEG – The ICE Futures canola market took a tumble on Wednesday morning, falling by double digits.
Chicago soyoil plunged after the United States Environmental Protection Agency previewed its biofuel blending levels, showing an increase for 2023 but decreases over the next two years. European rapeseed and Malaysian palm oil both fell as well. Crude oil, however, stayed steady.
The Canadian dollar was up nearly two-tenths of a U.S. cent compared to Tuesday’s close.
Nearly 17,100 canola contracts were traded. Prices in Canadian dollars per metric ton as of 8:38 CDT:
Jul. 730.30 dn 15.20
Nov. 695.80 dn 19.00
Jan. 702.80 dn 17.90
Mar. 708.10 dn 16.70
