WINNIPEG – The ICE Futures canola market was in the red in light trading on Tuesday morning, following the lead of vegetable oils.
Chicago soyoil, European rapeseed and Malaysian palm oil all showed declines. After dropping in price on Monday, crude oil corrected itself upwards on Tuesday due to speculation regarding supply in the Middle East.
The Canadian dollar was down one-tenth of a United States cent compared to Monday’s close. Statistics Canada reported earlier today that the country’s economy stayed flat in August while projecting zero change in September and a decline of 0.1 per cent for the third quarter.
Much of Alberta will see sunny skies and high temperatures above freezing. However, northeastern Alberta and northern Saskatchewan could see some flurries today. Much of Saskatchewan and Manitoba will stay below the freezing mark with little snow in the forecast.
Nearly 6,100 contracts were traded. Prices in Canadian dollars per metric ton as of 8:41 CDT:
Jan. 683.10 dn 4.40
Mar. 691.90 dn 4.30
May 698.70 dn 4.10
Jul. 703.10 dn 5.20
