WINNIPEG, Manitoba--The ICE Futures canola market bounced back on Wednesday despite mixed sentiment in comparable oils, due to a weaker Canadian dollar.

Chicago soyoil and European rapeseed went up, while Malaysian palm oil was down. Crude oil was also slightly lower, being pressured by a stronger U.S. dollar.

One analyst said Chicago soyoil's recent rise could potentially start a rally that would spill over into canola. The U.S. Department of Agriculture will release its monthly supply/demand estimates on Friday.

The Canadian dollar was down one-quarter of a U.S. cent compared to Tuesday's close.

About 21,100 contracts have traded at 10:06 CST. Prices in Canadian dollars per metric tonne:


 
           Price      Change 
Mar       626.00     up 4.30 
May       632.30     up 4.70 
Jul       634.60     up 3.90 
Nov       611.70     up 4.00 
 

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


(END) Dow Jones Newswires

01-08-25 1139ET