ICE Canola Dips With Crude Oil

WINNIPEG, Manitoba--The ICE Futures canola market was trading lower on Thursday following extended losses in crude oil.

Despite a 4.5 million barrel draw in U.S. stockpiles last week, according to the Energy Information Administration, economic pessimism helped bring crude oil prices down. Chicago soyoil was steady, European rapeseed was down and Malaysian palm oil traded higher.

The Canadian dollar was down more than two-tenths of a U.S. cent from Wednesday's close.

Prices in Canadian dollars per metric ton as of 9:42 a.m. ET:

   Canola     Price     Change 
 
      May     764.20    dn 8.30 
      Jul.    736.00    dn 7.90 
      Nov.    706.90    dn 7.40 
      Jan.    711.90    dn 7.40 

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

(END) Dow Jones Newswires

04-20-23 1021ET