WINNIPEG – The ICE Futures canola market was slightly lower on Wednesday morning, while crude and vegetable oil prices were headed in the opposite direction.
Sunny skies along with hot and dry conditions continue in both Alberta and Saskatchewan with the mercury approaching 30 degrees Celsius later today. In southern Manitoba, the forecast called for temperatures in the low-20s and the possibility of showers for most of the day.
Crude oil prices were just above unchanged despite the volatility of the United States dollar and speculation that OPEC+ could curb output.
Chicago soyoil was lower to start the day, while European rapeseed was higher and the off session of Malaysian palm oil fell by more than 300 ringits.
The Canadian dollar was relatively unchanged, up by less than one-tenth of a U.S. cent.
About 6,700 canola contracts were traded as of 8:38 CDT.
Prices in Canadian dollar per metric ton as of 8:38 CDT:
Nov. 826.30 dn 2.80
Jan. 835.70 dn 2.70
Mar. 842.60 dn 3.00
May 843.70 dn 3.80
