Glacier FarmMedia – Canola futures on the Intercontinental Exchange were virtually unchanged in the middle of Tuesday trading as trading had been choppy.
Chicago soyoil, European rapeseed and Malaysian palm oil were higher. However, crude oil eased off as officials from the United States and Russia met in Moscow today to discuss a potential end to Russia’s invasion of Ukraine.
An analyst said there appeared to be “lots of resistance” at the C$650 per tonne level for January canola. Meanwhile, January Chicago soyoil could break out above 53 U.S. cents per pound, which may improve canola prices.
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Glacier FarmMedia -– Canola futures on the Intercontinental Exchange were lower after choppy trade throughout the day. An analyst…
Statistics Canada will release its principal field crop estimates on Dec. 4 and expectations point to a canola harvest more than the 20.03 million tonnes estimated in September.
About 29,200 canola contracts have traded at 10:08 CST. Prices in Canadian dollars per metric tonne:
Price Change
Jan 647.30 up 0.10
Mar 660.80 dn 0.10
May 671.70 unchanged
Jul 677.90 up 0.30
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