WINNIPEG, Manitoba--The ICE Futures canola market was mostly higher on Tuesday morning as traders await key interest-rate decisions by central banks, including the U.S. Federal Reserve.

Chicago soyoil was slightly lower, while European rapeseed was mostly lower. Malaysian palm oil was also down this morning.

Crude oil also showed weakness as the Fed is expected to raise its key interest rate by 25 basis points on Wednesday. OPEC+ will also meet later this week to discuss its production policy.

The Canadian dollar was down more than a quarter of a U.S. cent from Monday's close. Statistics Canada (StatCan) estimated on Tuesday that the country's economy expanded at an annual rate of 1.6% in the fourth quarter of 2022, down from 2.9% in the third quarter. 


 
Prices in Canadian dollars per metric ton as of 8:45 CST: 
 
        Mar     831.90      up 4.00 
        May     830.40      up 3.60 
        Jul     831.90      up 3.20 
        Nov     808.00      dn 0.80

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


(END) Dow Jones Newswires

01-31-23 1012ET