Glacier FarmMedia – Canola futures on the Intercontinental Exchange were rising on Wednesday morning, supported by higher crude and vegetable oil prices.
Chicago soyoil advanced more than one cent per pound, while European rapeseed was also up. There was no trading for Malaysian palm oil due to the Lunar New Year holiday. Crude oil gained more than US$1.50 per barrel due to a lack of details regarding progress in U.S.-Iran peace talks, as well as Russia-Ukraine peace talks ending abruptly.
The Canadian dollar was down less than one-tenth of a cent compared to Tuesday’s close.
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Nearly 21,600 contracts were traded. Prices in Canadian dollars per metric ton as of 8:33 CST:
Mar 668.10 up 5.60
May 680.60 up 5.80
Jul 691.00 up 5.60
Nov 684.30 up 4.40
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