Glacier FarmMedia | MarketsFarm — The ICE Futures canola market was stronger Tuesday morning, with the largest gains in the front months as values continued to correct off the lows hit last week.
Gains in Chicago soyoil provided some spillover support, while European rapeseed was also mostly higher.
End user bargain hunting contributed to the gains, as the recent losses made canola attractively priced compared to most other oilseeds.
However, the ongoing tariff concerns that may disrupt trade with both China and the U.S. kept the canola market on edge, tempering the upside.
About 18,900 canola contracts had traded as of 8:46 CDT.
Prices in Canadian dollars per metric ton at 8:46 CDT:
Canola May 578.40 up 9.10
Jul 590.40 up 8.00
Nov 596.30 up 4.80
Jan 600.00 up 0.70
