Glacier FarmMedia MarketsFarm – The ICE Futures canola market pulled back Tuesday morning from its solid gains yesterday due to weakness in vegetable oils and a stronger Canadian dollar.
Chicago soyoil, European rapeseed and Malaysian palm oil were all lower on Tuesday morning. Crude oil, however, was slightly higher due to impending supply cuts from OPEC+.
The loonie was up more than one-tenth of a United States cent compared to Monday’s close.
Nearly 8,500 contracts were traded. Prices in Canadian dollars per metric ton as of 8:38 CDT:
May 642.60 dn 7.10
Jul. 651.40 dn 8.00
Nov. 658.60 dn 7.40
Jan. 665.90 dn 7.50
