ICE Canola Down Once Again

WINNIPEG, Manitoba--The ICE Futures canola market was still in the red Wednesday morning to go along with weakness in crude oil.

The collapse of Silicon Valley Bank is still having detrimental effects on the markets, including crude oil, which was down nearly US$3 per barrel Wednesday morning. Meanwhile, Chicago soyoil, European rapeseed and Malaysian palm oil were all lower.

The Canadian dollar also took a downturn, losing more than half of a U.S. cent compared with Tuesday's close.

Prices in Canadian dollars per metric ton as of 9:41 a.m. ET:

   Canola     Price      Change 
 
      May     746.30     dn 11.30 
      Jul     743.70     dn 11.40 
      Nov     724.20     dn 11.70 
      Jan     733.90     dn 6.70 

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

(END) Dow Jones Newswires

03-15-23 1008ET