WINNIPEG--The ICE Futures canola market declined in the middle of trading on Tuesday despite positive sentiment for comparable oils.

Chicago soyoil, European rapeseed and Malaysian palm oil all strengthened during the day. Crude oil prices were higher on signs of a tighter market.

One analyst said if the March soyoil contract surpasses 41 U.S. cents per pound, it could trigger a rally for oilseeds. However, the trade is waiting on Friday's supply/demand estimates from the United States Department of Agriculture.

The Canadian dollar was steady compared to Monday's close. Prime Minister Justin Trudeau announced his resignation on Monday with his successor to be determined in the coming weeks.

About 18,600 contracts have traded at 10:13 CST. Prices in Canadian dollars per metric tonne:


 
 
     Price   Change 
 
Mar 622.10  dn 3.70 
 
May 628.00  dn 3.80 
 
Jul 631.30  dn 3.50 
 
Nov 608.00  dn 2.50 

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


(END) Dow Jones Newswires

01-07-25 1155ET