WINNIPEG, Manitoba--Intercontinental Exchange canola futures climbed higher on Tuesday, getting a boost from gains in Chicago soyoil and European rapeseed.
Attempts to encourage more farmer selling was another reason for canola turning positive on Tuesday.
However, the Canadian oilseed's increases were tempered by declines in Chicago soybeans and soymeal along with Malaysian palm oil. Modest declines in crude oil also weighed on the vegetable oils.
Ongoing concerns about dry conditions remained in the background. Should the Prairies not receive timely rains, this year's crop could be further threatened by dryness.
The Canadian dollar slipped lower on Tuesday afternoon with the loonie at 72.90 U.S. cents compared to Monday's close of 73.03.
There were 27,846 contracts traded on Tuesday, compared to 29,028 on Monday. Spreading accounted for 10,356 contracts traded.
Prices are in Canadian dollars per metric tonne:
Price Change
Nov 690.80 up 8.20
Jan 698.90 up 8.00
Mar 705.10 up 7.70
May 710.00 up 6.90 Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Prices Volume Nov/Jan 7.90 under to 8.60 under 3,538 Nov/Mar 14.10 under to 15.10 under 66 Jan/Mar 6.00 under to 6.90 under 1,048 Mar/May 4.70 under to 5.70 under 420 May/Jul 3.30 under to 4.30 under 106
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
07-15-25 1543ET
