Glacier FarmMedia – Canola futures on the Intercontinental Exchange were higher in the middle of Tuesday trading amidst modest gains in crude and vegetable oils.
An oil tanker was struck by a drone off the coast of Dubai earlier today, which slightly raised crude oil prices. Chicago soyoil was steady, while European rapeseed and Malaysian palm oil made gains.
An analyst said that canola is leaning bullish, according to the technicals for Chicago soyoil. Another analyst said he’s monitoring any demand disruption for vegetable oils, especially for the Asian markets. He said there’s the potential for a lack of diesel along with the possibility of fuel becoming too expensive.
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Glacier FarmMedia – Canola futures on the Intercontinental Exchange showed modest gains on Tuesday morning despite little change to the…
StatCan also reported that 951,353 tonnes of canola were crushed last month, up from 882,610 tonnes in February 2025. There were 408,564 tonnes of oil and 548,424 tonnes of meal produced in February, increases from 373,427 and 518,594 tonnes, respectively, in February 2025.
The Canadian dollar was down one-quarter of a United States cent compared to Monday’s close.
About 35,300 canola contracts have traded at 10:30 CDT. Prices in Canadian dollars per metric tonne:
Price Change
May 734.10 up 6.40
Jul 746.80 up 6.30
Nov 739.50 up 5.70
Jan 744.50 up 4.40
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