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ICE canola futures fall on vegoil weakness

ReutersFeb 12, 2025 8:57 PM

All figures in Canadian dollars unless noted

- ICE canola futures eased on vegoil weakness, falling for the first time in five sessions.

• March canola RSH5 settled down $3.80 at $660.80 per metric ton. Other contract months had declines of $5.00 to $6.40, including new crop months.

• "The traders are just waiting for the next headline. It's a tough environment for traders," said a trader after the close. Uncertainty over U.S. tariffs, U.S. biofuels tax measures and restrictions on imports of used cooking oil are restraining bullish sentiments for soy and canola oil.

• Chicago Board of Trade soyoil futures BOv1 slipped 1.02%.

• Euronext rapeseed futures COMc1 fell 0.29%. Malaysian palm oil futures FCPOc3 rose 0.61% on bullish sentiments from the February 11 U.S. Department of Agriculture reports. POI/

• The Canadian dollar CAD= strengthened to its highest relative value to the U.S. dollar since mid-December. CAD/

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