ICE Close: Canola Claws Back a Portion of Previous Day’s Losses 


Canola futures clawed back about half of the previous day’s hefty losses on Tuesday. 

Canola fell in sympathy with Chicago soybeans and soybean oil, which both fell to seven-week lows on Monday amid US biofuel uncertainty. However, gains in crude oil today spilled over to support soyoil, lifting soybeans and canola as well. Crude was up 2% to two-week highs on rising geopolitical tensions. 

Gains in European rapeseed and palm oil also supported canola. 

July was up $11.90 to $698.70, and November added $12.30 to $680.20. 




Source: DePutter Publishing Ltd.

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