Glacier FarmMedia MarketsFarm – The ICE Futures canola market continued its downturn on Tuesday morning as the May contract fell to its lowest level in a month.
Chicago soyoil, European rapeseed and Malaysian palm oil were all in the red, while crude oil declined despite the recent Iranian drone attack on Israel.
The Canadian dollar was down one-third of a United States cent compared to Monday’s close. Statistics Canada reported today that the country’s annual inflation rate went up 0.1 of a point at 2.9 per cent in March, but would have went down if gasoline prices were excluded.
Two different systems brought rain to southern Alberta and southern Manitoba earlier today, but the heaviest amounts are expected later this week for Manitoba.
Nearly 23,300 contracts were traded. Prices in Canadian dollars per metric ton as of 8:40 CDT:
May 614.90 dn 5.00
Jul. 626.50 dn 4.90
Nov. 641.90 dn 3.90
Jan. 649.70 dn 3.70
