Glacier FarmMedia – Canola futures on the Intercontinental Exchange remained in negative territory on Wednesday morning as nearby prices stay at least C$30 per tonne below their 20-day averages. A lack of buying from China has put ongoing pressure on canola prices. However, the oilseed received support from comparable oils.
European rapeseed and Malaysian palm oil were up while Chicago soyoil was down. Crude oil was also higher after United States President Donald Trump ordered a blockade on Venezuelan oil tankers.
The Canadian dollar was down more than one-tenth of a U.S. cent compared to Tuesday’s close.
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ICE canola slide continues Wednesday
Glacier FarmMedia — ICE Futures canola contracts continued their downward slide of the past week at midday Wednesday, lacking any…
Nearly 15,000 contracts were traded. Prices in Canadian dollars per metric ton as of 8:45 CST:
Jan 595.40 dn 2.70
Mar 607.70 dn 3.60
May 619.60 dn 3.60
Jul 628.00 dn 4.00
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