WINNIPEG, Manitoba--The ICE Futures canola market made a late push before close on Wednesday after U.S. President Donald Trump said he was pausing reciprocal tariffs on most countries' goods for 90 days, while raising levies against Chinese goods to 125 percent.

China announced this morning it will raise tariffs on U.S. goods to 84 percent effective tomorrow.

Trade tensions between the U.S. and China could provide new opportunities for Canadian canola sales and could stave off potential Chinese tariffs on Canadian canola seed, according to an analyst.

Chicago soyoil was up, but European rapeseed and Malaysian palm oil were in negative territory. Crude oil was higher after Trump's announcement.

At mid-afternoon, the Canadian dollar was up four-tenths of a U.S. cent compared to Tuesday's close.

There were 70,696 canola contracts traded on Wednesday, which compares with Tuesday when 65,674 contracts changed hands. Spreading accounted for 42,952 of the contracts traded. Settlement prices are in Canadian dollars per metric tonne.

 
           Price      Change 
May       651.40     up 5.20 
Jul       658.80     up 6.10 
Nov       636.80     up 6.70 
Jan       643.50     up 6.00 

Spread trade prices are in Canadian dollars and the volume represents the number of spreads:

 
Months    Prices                            Volume 
May/Jul   3.10 under to 7.80 under          13,251 
May/Nov   18.00 over to 8.00 over              786 
May/Jan   10.60 over to 6.30 over               48 
Jul/Nov   24.00 over to 15.40 over           5,367 
Jul/Jan   15.60 over to 8.30 over               42 
Jul/Mar   2.70 over to 0.80 over                21 
Nov/Jan   6.50 under to 8.00 under           1,702 
Nov/Mar   11.80 under to 13.00 under            42 
Nov/May   15.10 under                            9 
Jan/Mar   4.80 under to 6.10 under             156 
Mar/May   2.80 under to 3.90 under              39 
May/Jul   1.70 under to 2.00 under              13 
 

Source: Commodity News Service Canada, news@marketsfarm.com

(END) Dow Jones Newswires

April 09, 2025 15:15 ET (19:15 GMT)

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