By Glen Hallick, MarketsFarm
WINNIPEG, Feb. 15 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were lower on Tuesday morning, although there’s a small gain in the sparsely-traded new crop January contract.
Continuing pull backs in the Chicago soy complex, Malaysian palm oil and European rapeseed weighed on canola values.
Following reports of some Russian troops were moving away from the Ukrainian border, there were significant declines in global crude oil prices. In turn that pressured edible oils into going lower.
The Canadian dollar was slightly higher on Tuesday morning, with the loonie at 78.60 U.S. cents, compared to Monday’s close of 78.51.
About 3,100 canola contracts had traded as of 8:36 CST.
Prices in Canadian dollars per metric tonne at 8:36 CST:
Price Change
Canola Mar 1,000.50 dn 9.00
May 988.30 dn 6.40
Jul 963.00 dn 5.30
Nov 834.90 dn 6.60
