Glacier FarmMedia — ICE canola futures were weaker Wednesday morning, taking back Tuesday’s gains as losses in crude oil spilled into the oilseed markets.
- Claims by the Trump administration that progress was being made on ceasefire talks with Iran were enough to send crude oil values falling on Wednesday, despite a lack of confirmation from Iran.
- Chicago soyoil, European rapeseed and Malaysian palm oil futures were also lower, although soybeans held onto small gains.
- May canola dipped back below its 20-day moving average after closing above that key chart point on Tuesday. However, the contract remains well above most longer-range indicators.
- The Canadian dollar was softer Wednesday morning, underpinning crush margins which remain historically wide.
Read Also
U.S. Grain/Oilseed Review: Soybeans, corn, wheat on the rise
SOYBEAN futures at the Chicago Board of Trade were stronger on Wednesday, shrugging off sharp losses in crude oil, which…
- About 15,300 canola contracts had traded as of 8:34 CDT.
Prices in Canadian dollars per metric tonne at 8:34 CDT:
Canola May 717.00 dn 6.90
Jul 729.80 dn 7.30
Nov 722.90 dn 7.30
Jan 727.10 dn 7.70
Access the latest futures prices at https://www.producer.com/markets-futures-prices/
Stay informed with our daily market videos. Each video quickly covers key futures moves, price trends and market signals that matter to Canadian farmers. Get clear, timely insights in just a few minutes. Bookmark https://www.producer.com/markets-futures-prices/videos
