By Glen Hallick
Glacier FarmMedia – Canola futures on the Intercontinental Exchange were higher on Tuesday morning, gleaning support from increases in the comparable oils.
Chicago soyoil was up sharply with more modest gains in soybeans, as well as MATIF rapeseed and Malaysian palm oil. Upticks in crude oil spilled over into the vegetable oils.
Forthcoming canola export sales to China underpinned the Canadian oilseed, however a record large harvest tempered the upside.
The March canola contract held above most of its major moving averages, only lagging its 200-day average.
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Glacier FarmMedia – Canola futures on the Intercontinental Exchange were on the rise in the middle of Tuesday trading with…
The Canadian dollar was virtually unchanged on Tuesday morning, with the loonie at 73.13 U.S. cents.
Approximately 19,750 contracts had traded by 8:35 CST and prices in Canadian dollars per metric tonne were:
Price Change
Canola Mar 650.70 up 5.70
May 662.20 up 5.80
Jul 670.70 up 5.80
Nov 661.80 up 4.90
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