WINNIPEG, Manitoba--The ICE Futures canola market was stronger midday Tuesday, playing catch-up with Chicago soyoil and soybeans which were stronger Monday when the Canadian market was closed for the National Day for Truth and Reconciliation.

However, the soy complex was softer Tuesday which tempered the upside in canola. European rapeseed and Malaysian palm oil futures also were lower.

Chart-based positioning contributed to the gains in canola, with the November contract back above the psychological C$710 per tonne level.

Recent weakness in the Canadian dollar, which has lost more than a full cent relative to its U.S. counterpart over the past few days, also was supportive.

An estimated 41,800 canola contracts traded as of 11:30 a.m. ET.

Prices in Canadian dollars per metric tonne at 11:30 a.m. ET: 


Canola 
    Price  Change 
Nov 713.70 up 6.70 
Jan 721.70 up 5.70 
Mar 728.70 up 5.40 
May 731.70 up 5.00

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


(END) Dow Jones Newswires

10-03-23 1207ET