WINNIPEG – The ICE Futures canola market was slightly lower on Wednesday morning, while crude and vegetable oils were mixed.
Crude oil was showing a positive bias due to the ongoing shutdown of the Keystone pipeline and indications of a tightening market next year.
Chicago soyoil was fractionally lower. Meanwhile, European rapeseed was lower and Malaysian palm oil was higher.
The Canadian dollar was down by more than one-tenth of a United States cent. The U.S. Federal Reserve will announce its latest key interest rate hike later today.
About 7,200 canola contracts were traded as of 8:42 CST.
Prices in Canadian dollar per metric ton as of 8:42 CST:
Jan. 871.40 dn 4.90
Mar. 856.50 dn 2.00
May 850.70 dn 3.80
Jul. 846.50 dn 5.30
