ICE Canola Up at Midday Tuesday
WINNIPEG, Manitoba--The ICE Futures canola market was stronger at midday Tuesday, recovering from overnight losses as activity resumed after Monday's National Day for Truth and Reconciliation.
Chicago soyoil futures were higher on Monday when the canola market was closed, accounting for some of today's buying interest in the Canadian oilseed. Gains in European rapeseed and Malaysian palm oil were also supportive, with a rally in crude oil lending strength to vegetable oils.
Striking grain workers at the Port of Vancouver reached a tentative deal over the weekend, taking some uncertainty out of the canola market.
An estimated 36,800 canola contracts traded as of 11:48 EDT. Prices in Canadian dollars per metric ton at 11:48 EDT:
Canola
Price Change
Nov 608.20 up 4.40
Jan 621.80 up 5.50
Mar 633.30 up 6.30
May 641.00 up 7.00
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
October 01, 2024 12:16 ET (16:16 GMT)
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