Glacier FarmMedia MarketsFarm – The ICE Futures canola market regained strength on Wednesday morning, deriving support from comparable oils.
Chicago soyoil, European rapeseed and Malaysian palm oil were all on the rise. Meanwhile, crude oil was also up due to ongoing Middle East tensions.
A major work stoppage on Canada’s two largest railways is set to begin at midnight ET, marking the first time a labour dispute brought rail traffic to a halt at Canadian National Railway and Canadian Pacific Kansas City at the same time.
The Canadian dollar is up nearly two-tenths of a United States cent compared to Tuesday’s close.
Roughly 10,400 contracts were traded. Prices in Canadian dollars per metric ton as of 8:40 CDT:
Nov. 576.70 up 11.60
Jan. 587.70 up 11.30
Mar. 598.10 up 12.60
May 603.90 up 11.60
