Glacier FarmMedia – Canola futures on the Intercontinental Exchange were pulling back in the middle of Tuesday trading after seeing strong gains on Monday.
Chicago soyoil and European rapeseed were also retreating while Malaysian palm oil was slightly higher. Crude oil was also in decline due to ample global supplies and despite Russian attacks on Ukrainian energy infrastructure overnight, as well as growing tensions between the United States and Venezuela.
The Canadian dollar added more than one-tenth of a U.S. cent compared to Monday’s close, also putting pressure on the oilseed. Canola markets will close at noon CST on Wednesday and will re-open on Dec. 29.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were stepping back on Tuesday morning, following yesterday’s…
About 26,100 canola contracts have traded at 10:08 CST. Prices in Canadian dollars per metric tonne:
Price Change
Jan 594.80 dn 6.80
Mar 603.30 dn 9.20
May 614.10 dn 9.60
Jul 622.20 dn 10.40
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