Glacier FarmMedia — ICE canola futures were trading to both sides of unchanged Tuesday morning, with the bias pointing higher in early activity.
Gains in Chicago soybeans provided spillover support for the Canadian oilseed. However, soyoil, Malaysian palm oil and European rapeseed futures were all weaker.
Optimism over trade talks with China underpinned the market, with reports Canada could be considering backing off its tariffs on Chinese electric vehicles.
The January canola contract was stuck between its 20- and 50-day moving averages, with little from a chart standpoint to provide direction.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were on the rise late Tuesday…
About 10,100 canola contracts had traded as of 8:46 CDT.
Prices in Canadian dollars per metric tonne at 8:46 CDT:
Canola Nov 620.70 up 1.50
Jan 634.80 up 0.80
Mar 646.80 up 0.90
May 657.50 up 1.30
Access the latest futures prices at https://www.producer.com/markets-futures-prices/
