By Glen Hallick
Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were higher on Tuesday morning, getting spillover from gains in the comparable oils.
The Chicago soy complex was on the rise, along with European rapeseed. They were underpinned by increases in crude oil. With a holiday in Malaysia, the palm oil market was closed today.
“A pretty interesting rebound in canola,” an analyst said.
The analyst pointed to the upticks in the equities market, with the futures “getting a bit of a tailwind.”
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ICE canola climbing higher Tuesday morning
Glacier FarmMedia — The ICE canola market was posting solid gains Tuesday morning, finding spillover support from advances in Chicago…
The November canola contract returned above its 20-day moving average, providing more support for the oilseed.
The Canadian dollar was stronger by mid-session Tuesday, with the loonie climbing to 72.68 U.S. cents compared to Monday’s close of 72.44.
Approximately 27,000 canola contracts were traded as of 10:31 am CDT, with prices in Canadian dollars per metric tonne:
Canola Nov 640.90 up 8.60
Jan 652.90 up 8.10
Mar 664.20 up 8.20
May 673.80 up 8.10
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
