ICE Canola Slide Continues
WINNIPEG, Manitoba--The ICE Futures canola market Wednesday extended its losses from Tuesday due to weakness from comparable oils.
Chicago soyoil, European rapeseed and Malaysian palm oil all suffered substantial losses early in the day. Crude oil also was lower due to an expansion in U.S. stockpiles, but Middle East tensions and supply cuts from OPEC+ reduced price pressures.
The Canadian dollar was down nearly two-tenths of a U.S. cent compared with Tuesday's close.
Nearly 16,900 contracts were traded. Prices in Canadian dollars per metric ton as of 9:38 a.m. ET:
Canola Price Change May 631.80 dn 6.70 Jul. 640.80 dn 7.20 Nov. 648.50 dn 7.10 Jan. 657.00 dn 6.00
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
March 27, 2024 10:01 ET (14:01 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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