By Glen Hallick, MarketsFarm
WINNIPEG, Feb. 22 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were steady to higher on Tuesday morning, as trading resumed with an overnight session following Monday’s holiday in Canada and the United States.
Canola gleaned spillover from upticks in the Chicago soy complex, European rapeseed and Malaysian palm oil. However, the increases were confined to the old crop months.
Edible oils were on the rise as they received support from higher global crude oil prices, caused by the escalation of the Russia-Ukraine border crisis.
The Canadian dollar was relatively steady on Tuesday morning, with the loonie at 78.57 U.S. cents, compared to Friday’s close of 78.53.
On Friday, ICE issued its notice of option expiration for nearby March canola contract.
About 11,200 canola contracts had traded as of 8:38 CST.
Prices in Canadian dollars per metric tonne at 8:38 CST:
Price Change
Canola Mar 1,033.50 up 13.90
May 1,026.80 up 14.70
Jul 1,000.40 up 13.40
Nov 858.90 unchanged
