Glacier FarmMedia MarketsFarm -– The ICE Futures canola market incurred more losses on Wednesday morning due to declines in comparable oils.
Chicago soyoil was lower, while Malaysian palm oil and European rapeseed fell sharply. Crude oil was down more than US$1 per barrel on expanding United States inventories despite continuing tensions in the Middle East.
The Canadian dollar was up one-tenth of a U.S. cent compared to Tuesday’s close.
Temperatures in the single digits are expected today across the Prairies to go along with rain and snow, with the heaviest amounts in Manitoba.
Nearly 21,000 contracts were traded. Prices in Canadian dollars per metric ton as of 8:38 CDT:
May 607.80 dn 4.70
Jul. 619.80 dn 3.70
Nov. 636.70 dn 3.30
Jan. 644.60 dn 3.40
