By Glen Hallick, MarketsFarm
WINNIPEG, June 6 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Monday morning, due to sharp upticks in European rapeseed.
There’s also support coming from gains in Chicago soybeans, while soymeal is up slightly and soyoil is narrowly mixed. There were small increases in global crude oil prices which provided a little bit of direction to edible oils. The Malaysian markets are closed today for a holiday.
Weekend rain brought much needed moisture to southern Alberta, with more to come today to help struggling crops. A stretch of co-operative weather will boost planting progress across the eastern Prairies.
The Canadian dollar was higher on Monday morning with the loonie at 79.73 U.S. cents, compared to Friday’s close of 79.50.
About canola 2,350 contracts had traded as of 8:34 CDT.
Prices in Canadian dollars per metric tonne at 8:34 CDT:
Price Change
Canola Jul 1,119.00 up 10.20
Nov 1,044.80 up 5.50
Jan 1,048.00 up 4.10
Mar 1,057.90 up 15.30
