WINNIPEG – The ICE Futures canola market is on track for losses in an eighth consecutive session on Tuesday morning as comparable oils also move lower.
While Chicago soyoil was higher to start the day, Malaysian palm oil was down and European rapeseed was mostly lower. Crude oil dropped by nearly US$2 per barrel after OPEC forecast a modest surplus in the second quarter of 2023.
The Canadian dollar was up more than two-tenths of a United States cent from Monday’s close.
Prices in Canadian dollars per metric ton as of 8:42 CDT:
May 758.80 dn 9.00
Jul. 756.20 dn 9.00
Nov. 736.50 dn 8.40
Jan. 740.80 dn 8.60
