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Tuesday, May 24, 2022

ICE canola futures rise in volatile trade

WINNIPEG, Manitoba: ICE canola futures rose on Wednesday in volatile trading, boosted by spillover support from soybeans and corn.

Selling pressure on front months earlier was likely related to inter-month spreading, a trader said.

March canola gained $2.30 to $997.50 per tonne.

March-May canola spread traded 7,341 times.

US soybean futures hit their highest in seven months on technical buying and as soyoil futures rallied with energy markets and historically high palm oil prices.

Euronext May rapeseed futures rose modestly. Ukraine’s rising role in grain, oilseed exports complicates the impact of tensions with Russia.

ICE canola futures rise in volatile trade

Source: Brecorder

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