WINNIPEG – The ICE Futures canola market was still in the red on Wednesday morning to go along with weakness in crude oil.
The collapse of Silicon Valley Bank is still having detrimental effects on the markets, including crude oil where it was down nearly US$3 per barrel this morning. Meanwhile, Chicago soyoil, European rapeseed and Malaysian palm oil were all lower.
The Canadian dollar also took a downturn, losing more than half of a United States cent compared to Tuesday’s close.
Prices in Canadian dollars per metric ton as of 8:41 CDT:
May 746.30 dn 11.30
Jul. 743.70 dn 11.40
Nov. 724.20 dn 11.70
Jan. 733.90 dn 6.70
