WINNIPEG--Intercontinental Exchange canola futures were mostly higher Tuesday in a show of independent strength, according to a trader. The only loss was in the new-crop November contract.
Trading was very choppy among the markets, with factors such as the war in Ukraine and Argentina's need for more rain creating nervousness, he added.
Chicago soybeans had been on the rise earlier this morning but have since turned mixed. Chicago soymeal was down, while there were gains in soyoil. European rapeseed was steady to lower and losses in Malaysian palm oil contributed more pressure. Global crude-oil prices were mixed, which didn't provide a clear direction for vegetable oils.
The Canadian dollar was slightly higher as the U.S. dollar pulled back a little. It bumped up to 74.99 U.S. cents, compared to Monday's close of 74.87.
Approximately 19,950 canola contracts were traded as of 11:27 a.m. EST.
Prices in Canadian dollars per metric ton:
Price Change
Canola
Mar 830.50 up 2.60
May 830.30 up 3.50
Jul 831.30 up 2.60
Nov 807.10 dn 1.70
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
01-31-23 1157ET
