ICE Morning Comment : Canola Barely in the Red

WINNIPEG, Manitoba--The ICE Futures canola market extended Tuesday's losses due to mixed sentiment in comparable oils and a stronger loonie.

While Chicago soyoil was slightly higher, Malaysian palm oil was lower and European rapeseed was mixed. Crude oil made small gains, correcting itself after a downward slide.

The Canadian dollar was up nearly two-tenths of a United States cent compared to Tuesday's close. The U.S. Federal Reserve will announce its latest key interest rate decision later today, with many expecting the central bank to leave the rate unchanged.

Nearly 11,800 contracts were traded.

Prices in Canadian dollars per metric ton as of 8:40 CST:

 
 
 
Price 
 
Change 
Jan. 
 
 
662.50 
 
dn 0.80 
Mar. 
 
 
669.10 
 
dn 1.70 
May 
 
 
675.60 
 
dn 1.90 
Jul. 
 
 
682.00 
 
dn 1.00 
 

Source: Commodity News Service Canada, [e-mail]

(END) Dow Jones Newswires

12-13-23 1009ET