Glacier FarmMedia – ICE canola futures dropped on Tuesday, taking back most of Monday’s gains in chart-based positioning as weakness in crude oil also carried over into the oilseeds.
Chicago soybeans saw losses of at least 15 United States cents per bushel, while soyoil and European rapeseed were also down. Malaysian palm oil was higher.
The Canadian dollar lost more than one-tenth of a U.S. cent compared to Monday’s close.
Prime Minister Mark Carney’s Liberal government will unveil its first budget later today, with market participants looking for news on trade relations with the United States and China.
Nearly 11,600 contracts were traded. Prices in Canadian dollars per metric ton as of 8:43 CST:
Jan 638.60 dn 9.30
Mar 649.60 dn 9.40
May 659.20 dn 9.80
Jul 666.00 dn 9.80
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
