Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange corrected themselves on Wednesday morning, continuing a week of up-and-down trade.
Chicago soyoil and European rapeseed were lower while Malaysian palm oil was slightly higher. Crude oil also made gains, but those were softened after the United States threatened 25 per cent tariffs on Indian goods and additional levies on countries that buy Russian oil.
Most of the Prairies will see sunny skies today. Areas of central and southern Alberta will see high temperatures exceeding 30 degrees Celsius before receiving rain at the start of next week.
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The Canadian dollar was down more than two-tenths of a U.S. cent compared to Tuesday’s close. The Bank of Canada announced this morning it kept its key interest rate unchanged at 2.75 per cent. The U.S. Federal Reserve will announce its next key interest rate decision later today, with the trade expecting it to maintain rates at current levels.
Nearly 16,800 contracts were traded. Prices in Canadian dollars per metric ton as of 8:43 CDT:
Nov 693.50 dn 8.80
Jan 704.30 dn 8.20
Mar 712.10 dn 8.10
May 719.90 dn 6.70
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
