ICE Canola Futures Decline Amid Crude Oil Price Rise

Canola futures on the Intercontinental Exchange (ICE) declined on Wednesday morning despite an increase in crude oil prices. The price jump, which saw crude oil gain approximately US$5 per barrel, did not have a significant impact on ICE canola futures.

The price of canola futures continues to slide, with nearly 18,500 contracts traded. As of 8:51 CDT, the prices in Canadian dollars per metric ton were:

• Nov 778.60 (down 4.60)
• Jan 787.40 (down 4.80)
• Mar 794.60 (down 4.40)
• May 797.10 (down 6.10)

The Canadian dollar was slightly stronger compared to Tuesday's close.