Glacier FarmMedia — Canola futures on the Intercontinental Exchange were slightly higher on Tuesday with the May contract briefly exceeding the C$680 per tonne level. There was no canola trading on Monday due to a holiday in Canada.
Chicago soyoil and Malaysian palm oil were down while European rapeseed was mixed. Crude oil was lower as the market watches negotiations between the United States and Iran.
The Canadian dollar was down one-third of a U.S. cent from Friday’s close, supporting canola. The Bank of Canada did not publish a closing exchange rate on Monday.
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Nearly 34,200 contracts were traded. Prices in Canadian dollars per metric ton as of 8:38 CST:
Mar 664.80 up 1.30
May 677.50 up 2.40
Jul 688.30 up 3.50
Nov 683.40 up 4.20
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