tradingkey.logo

ICE canola futures fall with Chicago soy

ReutersFeb 5, 2025 8:07 PM

All figures in Canadian dollars unless noted

- ICE canola futures fell Wednesday in sympathy with the Chicago soy complex.

• March canola RSH5 settled down $6.80 at $640.40 per metric ton. All months to January 2026 were down.

• The decline Wednesday ended the two-day relief rally that greeted U.S. President Donald Trump's softening and then 30-day postponement of tariff threats against Canadian and Mexican products. The U.S. is a major market for Canadian canola seed, oil and meal.

• Chicago Board of Trade soybean futures Sv1 fell 1.67% and soyoil futures BOv1 dropped 1.46% on needed rain in Argentina, which increases the chances of big soybean and corn crops.

• Euronext rapeseed futures COMc1 fell 0.77% and Malaysian palm oil futures FCPOc3 rose 0.6% on signs of stronger Indian demand. POI/

A 2.2% decline in crude oil CLc1 hurt vegoils, which are feedstocks for biofuels and compete in energy markets.

• The Canadian dollar CAD= strengthened in continuing relief from the postponement of U.S. tariffs. CAD/

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Related Articles

KeyAI