WINNIPEG, Manitoba--The ICE Futures canola market added another set of gains onto its recent rally Wednesday despite a lack of support from comparable oils.

Crude oil and Chicago soyoil were both down, while European rapeseed and Malaysian palm oil were also lower in the nearby contracts.

The Canadian dollar was down one-quarter of a U.S. cent compared to Tuesday's close.

One analyst said if nearby canola exceeds C$660 per metric ton, it would be on its way even higher. Another analyst suggested C$655 as a crucial level, adding that it could go as high as C$680.

About 25,300 contracts have traded at 10:23 CDT.


Prices in Canadian dollars per metric ton: 


 
                  Price Change 
Canola       May  640.80  up 6.40 
             Jul  650.50  up 4.30 
             Nov  662.90  up 4.00 
             Jan  670.30  up 3.60

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

04-24-24 1148ET