WINNIPEG, Manitoba--The ICE Futures canola market Wednesday extended its losses from Tuesday due to weakness from comparable oils.

Chicago soyoil, European rapeseed and Malaysian palm oil all suffered substantial losses early in the day. Crude oil also was lower due to an expansion in U.S. stockpiles, but Middle East tensions and supply cuts from OPEC+ reduced price pressures.

The Canadian dollar was down nearly two-tenths of a U.S. cent compared with Tuesday's close.

Nearly 16,900 contracts were traded. Prices in Canadian dollars per metric ton as of 9:38 a.m. ET: 


Canola 
     Price  Change 
May  631.80 dn 6.70 
Jul. 640.80 dn 7.20 
Nov. 648.50 dn 7.10 
Jan. 657.00 dn 6.00

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


(END) Dow Jones Newswires

03-27-24 1001ET