By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Feb. 7 (MarketsFarm) – The ICE Futures canola market was posting small gains in most months Tuesday morning, recovering from earlier losses as a rally in Chicago soyoil provided support.
Malaysian palm oil was also stronger, although European rapeseed futures were narrowly mixed.
Canadian canola stocks as of Dec. 31, 2022, came in at 11.4 million tonnes, according to a report from Statistics Canada. That was up by 29 per cent from the same time a year ago, but slightly off average trade guesses.
About 6,800 canola contracts had traded as of 8:44 CST.
Prices in Canadian dollars per metric ton at 8:44 CST:
Canola Mar 835.10 up 1.60
May 832.70 up 1.90
Jul 832.50 up 2.10
Nov 810.20 dn 0.90
