WINNIPEG – The ICE Futures canola market was steady to lower on Tuesday morning to go along with narrowly mixed outside markets.
Clear skies continued for much of the Prairies with high temperatures in Alberta forecast to exceed 20 degrees Celsius and those in Saskatchewan just a few degrees lower. However, in Manitoba, temperatures will be just above freezing.
Crude oil prices were struggling to find direction as traders weigh a tight market against the possibility of a global recession.
Chicago soyoil was higher to start the day, as well as Malaysian palm oil. However, European rapeseed was lower.
The Canadian dollar was only about one-tenth of a U.S. cent higher on Tuesday morning after gaining two-thirds of a cent on Monday.
About 6,200 canola contracts were traded as of 8:44 CDT.
Prices in Canadian dollar per metric ton as of 8:44 CDT:
Nov. 855.50 unchanged
Jan. 862.10 dn 0.60
Mar. 867.70 dn 0.70
May 871.30 unchanged
