WINNIPEG, Manitoba--Intercontinental Exchange canola futures were lower Tuesday morning, continuing the losses from the overnight session.
Declines in the Chicago soy complex and Malaysian palm oil weighed on canola values while European rapeseed was mixed.
Crude oil prices stepped back, putting pressure on the vegetable oils.
The March canola contract remained above several key technical levels, including its 200-day moving average.
Tightening supplies continued to underpin the Canadian oilseed's values.
The Canadian dollar was slightly higher Tuesday morning, with the loonie at 69.47 U.S. cents compared with Monday's close of 69.39.
About 8,800 contracts were traded by 9:37 a.m. ET and prices in Canadian dollars per metric tonne were:
Canola Price Change Mar 643.70 dn 4.00 May 651.90 dn 3.70 Jul 657.20 dn 3.50 Nov 637.20 dn 2.60
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
01-14-25 0959ET