Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange remained lower in the middle of trading on Tuesday as comparable oils weakened.
Chicago soyoil and European rapeseed were also pulling back while Malaysian palm oil was higher. Crude oil lost almost US$1 per barrel due to prospects of softer demand and higher production later this year.
Rain is expected to fall on much of the southern Prairies today to go with normal to below-normal temperatures. Meanwhile, Calgary and other areas in southern Alberta will see high temperatures of less than 15 degrees Celsius.
The Canadian dollar was up three-tenths of a U.S. cent compared to Monday’s close.
About 19,300 canola contracts have traded at 10:18 CDT. Prices in Canadian dollars per metric tonne:
Price Change
Nov 685.80 dn 8.30
Jan 695.70 dn 8.20
Mar 702.90 dn 7.70
May 708.10 dn 7.60
