Glacier FarmMedia – Canola futures on the Intercontinental Exchange dropped in the middle of Wednesday trading, following the leads of crude and vegetable oils.
Crude oil prices lost more than US$2 per barrel after United States President Donald Trump and Iranian President Masoud Pezeshkian said the end of the war between the two countries was possible. Trump will make a nationally televised address at 8 p.m. CDT tonight.
An analyst said risk premiums for comparable oils and commodities are being “evaporated” due to the renewed optimism in the Middle East. Chicago soyoil dropped more than one U.S. cent per pound, while European rapeseed and Malaysian palm oil were also down.
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ICE canola drops along with crude, vegetable oils
Glacier FarmMedia – Canola futures on the Intercontinental Exchange fell back early Wednesday, pressured by a stronger Canadian dollar and…
The Canadian dollar was up one-quarter of a U.S. cent compared to Tuesday’s close.
About 35,400 canola contracts have traded at 10:05 CDT. Prices in Canadian dollars per metric tonne:
Price Change
May 720.80 dn 11.00
Jul 734.00 dn 10.50
Nov 727.50 dn 9.10
Jan 733.10 dn 9.10
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
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