Glacier FarmMedia – It was a turnaround Tuesday for canola and comparable oils, recovering most of Monday’s heavy losses.
A relative lack of news allowed many commodities to make gains, said an analyst. However, the delay of a meeting between United States President Donald Trump and Chinese President Xi Jinping to next month was still putting pressure on prices.
Crude oil gained more than US$2 per barrel, while Chicago soyoil and European rapeseed were also higher. Malaysian palm oil was down.
At mid-afternoon, the Canadian dollar was down one-tenth of a U.S. cent compared to Monday’s close. The Bank of Canada will make its key interest rate announcement on Wednesday.
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Glacier FarmMedia – SOYBEAN contracts were in positive territory on the Chicago Board of Trade on Tuesday, but did little…
There were 96,162 canola contracts traded on Tuesday, compared to Monday when 74,453 contracts changed hands. Spreads accounted for 51,908 contracts in today’s trade.
Settlement prices are in Canadian dollars per metric tonne.
May 729.50 up 26.90
Jul 738.80 up 27.00
Nov 727.30 up 28.60
Jan 721.60 up 28.00
Spread trade prices are in Canadian dollars:
May/Jul 9.00 under to 10.30 under 14,891
May/Nov 5.10 over to 1.40 over 860
May/Jan 1.90 under to 2.80 under 7
Jul/Nov 14.50 over to 10.20 over 7,604
Jul/Jan 9.60 over to 6.60 over 23
Nov/Jan 4.10 under to 4.90 under 1,990
Nov/May 8.20 under to 9.60 under 9
Jan/Mar 2.80 under to 3.60 under 156
Jan/Jul 3.80 under to 4.20 under 374
Mar/May 0.80 under to 1.30 under 6
May/Jul 0.30 under to 0.50 under 7
Jul/Nov 22.50 over to 21.10 over 27
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