Glacier FarmMedia MarketsFarm – The ICE Futures canola market was in decline on Wednesday morning due to risk-off sentiment in crude oil.
Chicago soyoil and Malaysian palm oil were both down, while European rapeseed was mixed. Crude oil was losing more than US$1 per barrel despite tensions between the U.S. and Houthi rebels from Yemen in the Red Sea region.
The Canadian dollar was down more than two-tenths of a U.S. cent compared to Tuesday’s close.
Nearly 10,300 contracts were traded. Prices in Canadian dollars per metric ton as of 8:35 CST:
Mar. 623.60 dn 6.20
May 629.80 dn 6.60
Jul. 634.70 dn 6.90
Nov. 633.40 dn 6.40
