WINNIPEG – The ICE Futures canola contract kept the previous day’s downward momentum on Tuesday, mainly pressured by a stronger loonie.
The Canadian dollar was up one half of a United States cent compared to Monday’s close. Statistics Canada reported this morning that the country’s inflation rate jumped to four per cent in August, exceeding many analysts’ expectations.
Chicago soyoil was virtually unchanged, while European rapeseed was up and Malaysian palm oil was mixed. Crude oil continued to rise due to tightening supply.
Temperatures in the high-teens Celsius will be accompanied by rainfall in parts of Alberta and Saskatchewan today, while Manitoba will see sunny skies and temperatures in the high-20s.
Nearly 12,400 contracts were traded. Prices in Canadian dollars per metric ton as of 8:39 CDT:
Nov. 738.70 dn 3.30
Jan. 746.50 dn 4.20
Mar. 753.00 dn 4.00
May 759.70 dn 3.40
