Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange took a step back of Wednesday morning amidst mixed sentiment in comparable oils.
Chicago soyoil and Malaysian palm oil were higher but European rapeseed was lower. There were also gains in Chicago soybeans and soymeal that spilled over into canola.
Crude oil was down as the trade evaluates the effects of proposed tariffs by United States President Donald Trump, while strong Chinese crude consumption limited the losses.
Most areas in the Prairies will see normal to below-normal temperatures today, as well as rainfall today or tomorrow.
The Canadian dollar was down more than one-tenth of a U.S. cent compared to Tuesday’s close.
Nearly 6,900 contracts were traded. Prices in Canadian dollars per metric ton as of 8:41 CDT:
Nov 685.90 dn 4.90
Jan 694.60 dn 4.30
Mar 701.20 dn 3.90
May 706.50 dn 3.50
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/