WINNIPEG – The ICE Futures canola market made gains on Tuesday morning in its return from the long weekend.
Chicago soyoil was mostly steady, while European rapeseed was mostly higher and Malaysian palm oil was lower. There was no canola trading on Monday due to the Louis Riel Day holiday. Markets in the United States were also closed for President’s Day.
Crude oil was slightly lower this morning as traders assessed further monetary tightening from the United States Federal Reserve and improving demand from China.
The Canadian dollar was down less than one-tenth of a U.S. cent compared to Friday’s close. Statistics Canada (StatCan) reported earlier today that the annual inflation rate was at 5.9 per cent in January, down from 6.3 per cent in December.
Prices in Canadian dollars per metric ton as of 8:53 CST:
Mar. 835.60 up 7.20
May 828.30 up 8.00
Jul. 826.10 up 8.00
Nov. 807.00 up 6.70
