ICE Canola Futures Regain Positive Momentum After Losses

WINNIPEG, Manitoba--After two straight days of losses, the ICE Futures canola market regained positive momentum Wednesday morning thanks to strength in comparable oils.

While Chicago soyoil was lower, European rapeseed and Malaysian palm oil were mostly higher early Wednesday.

Crude oil gained more than US$1 per barrel as optimism for a resurgence of Chinese demand outweighed a jump in U.S. crude oil inventories.

The Canadian dollar was steady compared to Tuesday's close.

Prices in Canadian dollars per metric ton as of 9:45 a.m. ET:

   Canola  Price    Change 
 
   Mar     846.80   up 5.20 
   May     843.40   up 5.20 
   Jul     844.10   up 5.30 
   Nov     815.10   up 4.90 

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

(END) Dow Jones Newswires

01-11-23 1012ET