WINNIPEG, Manitoba--After two straight days of losses, the ICE Futures canola market regained positive momentum Wednesday morning thanks to strength in comparable oils.
While Chicago soyoil was lower, European rapeseed and Malaysian palm oil were mostly higher early Wednesday.
Crude oil gained more than US$1 per barrel as optimism for a resurgence of Chinese demand outweighed a jump in U.S. crude oil inventories.
The Canadian dollar was steady compared to Tuesday's close.
Prices in Canadian dollars per metric ton as of 9:45 a.m. ET:
Canola Price Change Mar 846.80 up 5.20 May 843.40 up 5.20 Jul 844.10 up 5.30 Nov 815.10 up 4.90
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
01-11-23 1012ET