WINNIPEG, Manitoba--The ICE Futures canola market incurred more losses Wednesday morning due to declines in comparable oils.
Chicago soyoil was lower, while Malaysian palm oil and European rapeseed fell sharply. Crude oil was down more than US$1 per barrel on expanding U.S. inventories despite continuing tensions in the Middle East.
The Canadian dollar was up one-tenth of a U.S. cent compared with Tuesday's close.
Temperatures in the single digits are expected Wednesday across the Prairies to go along with rain and snow, with the heaviest amounts in Manitoba.
Nearly 21,000 contracts were traded.
Prices in Canadian dollars per metric ton as of 8:38 a.m. CDT:
Price Change
Canola May 607.80 dn 4.70
Jul 619.80 dn 3.70
Nov 636.70 dn 3.30
Jan 644.60 dn 3.40
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
04-17-24 1004ET
