WINNIPEG – The ICE Futures canola market made modest gains on Tuesday despite mixed sentiment in comparable oils.
European rapeseed and Malaysian palm oil started the day higher, but Chicago soyoil was virtually unchanged. Crude oil took a step down due to expanding supplies from Western nations.
The Canadian dollar was up more than one-tenth of a United States cent compared to Monday’s close. Statistics Canada reported today that inflation slowed to 3.1 per cent in October compared to 3.8 per cent in September. The federal government will table its fall economic statement in the House of Commons later today.
Nearly 10,250 contracts were traded. Prices in Canadian dollars per metric ton as of 8:41 CDT:
Jan. 720.00 up 3.30
Mar. 723.70 up 3.30
May 727.40 up 2.60
Jul. 730.60 up 1.40
