Glacier FarmMedia – Canola futures on the Intercontinental Exchange were still sliding back on Tuesday morning with no support from comparable oils.
Chicago soyoil, European rapeseed and Malaysian palm oil were all in the red. Crude oil was down by more than US$1 per barrel due to a stalling Chinese economy and progressing Russia-Ukraine peace talks.
The Canadian dollar was up more than one-tenth of a U.S. cent compared to Monday’s close, adding more pressure on the oilseed.
Nearly 15,700 contracts were traded. Prices in Canadian dollars per metric ton as of 8:39 CST:
Jan 597.30 dn 4.60
Mar 610.50 dn 4.80
May 622.00 dn 5.30
Jul 630.30 dn 5.30
