Glacier FarmMedia | MarketsFarm – The ICE Futures canola market was weaker on Friday morning as global markets continued to struggle under the new tariff scheme unveiled by United States President Donald Trump on April 2.
Chicago soyoil, European rapeseed and Malaysian palm oil were seeing sharp losses for a second straight day. Meanwhile, crude oil lost approximately US$5 per barrel.
The Canadian dollar was down nearly two-thirds of a U.S. cent compared to Thursday’s close.
The Canadian Grain Commission reported 233,000 tonnes of canola were shipped for export during the week ended March 30, more than twice than the 113,800 reported the week before. So far this marketing year, 6.866 million tonnes were shipped, compared to 4.031 million one year earlier.
Nearly 27,000 contracts were traded. Prices in Canadian dollars per metric ton as of 8:38 CDT:
May 625.30 dn 10.90
Jul. 626.80 dn 12.70
Nov. 614.80 dn 11.00
Jan. 622.60 dn 10.80
