WINNIPEG, Manitoba--The ICE Futures canola market pulled back Tuesday morning from its solid gains Monday due to weakness in vegetable oils and a stronger Canadian dollar.
Chicago soyoil, European rapeseed and Malaysian palm oil were all lower Tuesday morning. Crude oil, however, was slightly higher due to impending supply cuts from OPEC+.
The loonie was up more than one-tenth of a U.S. cent compared with Monday's close.
Nearly 8,500 contracts were traded.
Prices in Canadian dollars per metric ton as of 8:38 CDT:
Price Change Canola May 642.60 dn 7.10 Jul 651.40 dn 8.00 Nov 658.60 dn 7.40 Jan 665.90 dn 7.50
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
03-26-24 1005ET