Glacier FarmMedia – Canola futures on the Intercontinental Exchange were solidly in the green on Tuesday, recovering much of Monday’s losses on the strength of comparable oils.
An analyst said a relative lack of news today has allowed little movement in commodities. However, the possibility of a delayed meeting between United States President Donald Trump and Chinese President Xi Jinping is still bearish. The analyst also said there is still uncertainty as to where crude oil prices will go.
Crude oil gained approximately US$1 per barrel, while Chicago soyoil was up nearly two U.S. cents per pound. European rapeseed was also higher, while Malaysian palm oil was down.
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Glacier FarmMedia – SOYBEAN contracts were in positive territory on the Chicago Board of Trade on Tuesday, but did little…
The Canadian dollar was down one-tenth of a U.S. cent compared to Monday’s close.
The Bank of Canada’s next key interest rate announcement will be on Wednesday.
About 53,500 canola contracts have traded at 10:06 CDT. Prices in Canadian dollars per metric tonne:
Price Change
May 723.10 up 20.50
Jul 732.50 up 20.70
Nov 720.00 up 21.30
Jan 724.60 up 21.00
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